UK To Offset Brexit, Spur Global Growth With Life-Science Sector Deal And Industrial Strategy
The UK today revealed the bulk of its Industrial Strategy, as signaled by Prime Minister May's government in 2016. It's both a response and a proactive move in the wake of the controversial Brexit vote. It builds on the already-issued Life Sciences strategy, which earned the medtech industry's approbation this summer, and includes the "sector deal" for UK life sciences.
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The UK is relatively well placed in European comparisons regarding access to medtech funding, but it is also ready and waiting for further improvement, say the local venture capital (BVCA) and healthtech industry (ABHI) associations.
The next step in the UK government's life-science strategy, the Life Sciences Sector Deal, was issued today, setting out a blueprint of government-support mechanisms and private investment across the whole of the sector. The deal, signaled yesterday at UK HealthTech 2017, seeks to maximize the potential of medtech and pharma businesses, and exploit the value of the NHS.
The long-awaited UK Life Sciences Strategy, part of the industrial strategy proposed after the May government took office in summer 2016, was released today. With input from major medtech organizations and UK-based pharma groups it charts a course ahead for the £64bn national life-sciences industry as the UK seeks to embrace its post-EU future.