Conservative Party conference: the future of the life sciences
Researcher
The UK is a life sciences superpower, with a world-leading science base and academic excellence that give it a critical edge. Yet, global competition for investment is fierce and the UK has faced notable setbacks in recent years. Without a thriving life sciences sector, both our economy and NHS patients will feel the consequences.
We were delighted to be joined by Julia Lopez MP, Shadow Secretary of State for Science, Innovation and Technology, to share her thoughts on the future of the UK’s life sciences sector. This private roundtable at Conservative Party Conference was kindly supported by the Association of the British Pharmaceutical Industry (ABPI).
Here are my three key takeaways from the discussion:
Rebuilding confidence in the UK’s life sciences offer
The UK’s world-class science base is a huge strength, but global investors are increasingly seeing the UK as a less attractive destination for life sciences investment. Indicative of this, earlier this month Merck pulled out of plans for a £1 billion research centre in London. Meanwhile, the UK’s foreign direct investment ranking has slipped, from second among comparator countries in 2017 to seventh by 2023.
Rebuilding confidence must now be a top priority. Policy unpredictability, a challenging regulatory framework, and the UK’s difficult fiscal position are all negative signals for foreign investors. The Government must deliver a coherent long-term strategy, ensuring the UK remains globally competitive. The Life Sciences Sector Plan outlines a clear vision to supercharge the sector, but now focus must shift to delivery. Re-establishing the UK’s reputation as a reliable and attractive place for life sciences investments is the first step.
Fixing the fundamentals
There are a plethora of systemic barriers undermining the UK’s life sciences potential. Attendees repeatedly highlighted how difficult the NHS market is to enter, meaning innovations developed here too often fail to be adopted here. This pushes companies and investments overseas. It is understandable that firms prefer to operate in places where adoption is faster and easier.
The National Institute for Health and Care Excellence (NICE) has a crucial role in determining which medicines and innovations reach NHS patients. Yet its cost-effectiveness thresholds have remained unchanged for over 20 years, meaning the real value of what the NHS is willing to pay has eroded significantly. Even when medicines or innovations are approved at the national level, the NHS often struggles to adopt them at scale due to cultural and capacity barriers.
These fundamentals must be fixed. This not only includes a regulatory and funding environment that supports life sciences from discovery to delivery, it also means consistent investment throughout the research pathway and an accessible NHS market.
Shaping a strong public narrative of the importance of the life sciences
There remains a striking lack of public understanding of the life sciences sector, its importance to the UK and the challenges its currently facing. Disputes within the sector are commonly viewed as profit-driven, tainted by negative perceptions of ‘big pharma’. Yet a thriving life sciences sector is not about profits, it is about patients, jobs and the economy.
On the current trajectory, NHS patients’ access to standard and innovative treatments will continue to fall behind that of other European countries. A strong, well-funded life sciences sector will reverse this, delivering better access and outcomes for patients.
To achieve this, the public narrative must change. The sector’s story is one of medical innovation, economic growth, and national resilience. The benefits of a thriving sector are far-reaching. Reshaping public perceptions is essential to securing the UK’s long-term position as a life sciences superpower.