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Two leading pharmaceutical companies have said this week, that they will be making an inward investment into the UK over the coming years. MSD and Qiagen have committed to a combined £1billion (sterling) investment which will, it is predicted, create about 1,850 new jobs. The Life Sciences industry in the UK is one of four sectors that the UK Government has identified for Government investment in and support as part of its’ Industrial Strategy for the UK which was launched on 27th November 2017.
We spoke to Rick Smithies Business Manager for Life Sciences for Amoria Bond on his thoughts on the announcement from MSD and Qiagen as well as Life Sciences being one of the areas targeted for investment along with Construction, Artificial Intelligence and Automotive.
‘It’s certainly a positive statement from the Government as well as from the private sector and is a welcome piece of news. I think that what is really interesting is that the Government’s strategy is looking at the longer term requirements for the industry sector as well. We are really pleased that the Government has identified people as one of the ‘5 foundations of productivity’ to deliver its’ Industry Strategy and will be investing in upskilling the UK workforce to meet the challenges of becoming a global leader in the Life Sciences sector.’
‘There is generally a skill shortage within specialist areas within the Life Sciences sector which has hampered the ability of some companies to boost their productivity.’
‘We think that this is a strong start to the ‘Industry Strategy’ from the Government and is a great example of how public funding and private investment can work together to help improve an industry sector. The real test will be sustaining this investment over the long term when factoring in the impact of Brexit as well as other longer term economic trends.’