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Drugs: Investment

Question for Department for Business, Innovation and Skills

UIN 24238, tabled on 26 January 2016

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to maintain the UK's position as a market for investment by global pharmaceutical companies.

Answered on

3 February 2016

This Government is committed to maintaining and building on the UK’s position as a leader in the global market for investment in health and life sciences – the UK is the number one destination for life science FDI in Europe, and pharmaceutical exports grew 23% in the first three quarters of 2015. Through the Life Sciences Strategy we are working across Government to improve the UK’s competitiveness to stimulate investment, including by protecting the ring-fenced science budget in real terms and increasing funding in real terms to the Catapults which play a key role in commercialising innovation.

Answered by

Department for Business, Innovation and Skills