Northern Powerhouse life sciences contributing £10 billion to UK economy, says minister
pharmafile | April 26, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | Jobs, Northern Powerhouse, contribution, economy, exporting, george freeman, investment, life sciences, minister, north
Minister for Life Sciences, George Freeman MP, has revealed that life sciences businesses within the Northern Powerhouse are contributing over £10.8 billion each year to the UK economy, as well as supporting 38,000 highly skilled jobs.
Freeman announced the results of new data from the 2015 Strength and Opportunity Report at the BioTrinity Conference in London. The data show that over 1,000 life and health science companies contribute to the Northern Powerhouse, with 97% of these companies classified as small and medium enterprises (SMEs). Together, these businesses export over £8.1 billion of medicinal and pharmaceutical products per year.
The cluster of biological, medical and surgical manufacturers includes Eli Lilly, Allergan, Fujifilm Diosynth Biotechnologies and JRI Orthopaedics. As well as that, the north of the country boasts world class facilities including the £38 million National Biologics Manufacturing Centre and the UK Antimicrobial Resistance Centre.
Freeman comments: “This data shows that the UK’s £56 billion life sciences industry is a powerhouse in the Northern economy… With its world-leading universities, innovative life sciences companies and millions of NHS patients across the region, the North has unique capabilities with excellent growth potential for international investors.”
The report was commissioned by UK Trade and Investment (UKTI) and was created in collaboration with the Northern Health Science Alliance (NHSA).
NHSA Chair, Professor Ian Greer, says: “The great universities and NHS organisations of the North have been working collaboratively with each other and industry to establish some of the most advanced facilities populated by world-leading experts in their field. Together with a 15 million population there is a massive untapped resource for international investors and industry to work with the Northern Powerhouse for mutual benefit.”
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