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Life Sciences: Capital Investment

Question for Department for Business, Energy and Industrial Strategy

UIN 121261, tabled on 26 November 2020

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to improve the UK’s intellectual property regime to attract investment in life sciences.

Answered on

1 December 2020

The life sciences sector is crucial to our success as a science superpower. It has consistently been the largest investor in research and development in the UK, investing over £4.5 billion in 2018.

The Government has pledged to increase UK investment in research and development, with the goal being to reach 2.4% of GDP by 2027. The Government’s R&D Roadmap puts science and technology at the forefront of our economic and social recovery.

Intellectual property is a crucial part of that effort, so that great research and ideas can be turned into great businesses.

Consequently, as we reach the end of the transition period, we aim to provide maximum certainty and clarity in the patent framework, giving the life science sector the confidence to invest. Going forward, we will have the flexibility to make changes to the intellectual property system to best meet the evolving needs of the UK and our ambition for innovation.

Answered by

Department for Business, Energy and Industrial Strategy
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