"reflects the challenges of the UK not making meaningful progress towards addressing the lack of investment in the life science industry and the overall undervaluation of innovative medicines and vaccines by successive UK governments"
"and they're all in the same space, and that is, they're not going to do any more investing in the UK"
"Ten years ago, we used to spend 15% of our healthcare spend on pharmaceuticals. Now it's 9%. The rest of"
"more work to do"
Merck is scrapping a planned £1bn expansion of UK life sciences operations and will move its life sciences research to the United States. The company will not occupy the King's Cross site under construction and will vacate laboratories at the London Bioscience Innovation Centre and the Francis Crick Institute, resulting in 125 job losses by the end of the year. The company blamed successive governments for undervaluing innovative medicines and failing to address underinvestment in the life science industry. Industry experts warn multiple major pharmaceutical firms may halt further UK investment, while the government says it funds science but acknowledges more work to do. Pharma investment has been shifting to the US amid political pressures and tariff threats.
Read at www.bbc.com
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