Norman Lamont has warned that AstraZeneca's potential exit from the London Stock Exchange would significantly harm its status as a global financial center. He urges the government to view pharmaceutical companies as valuable investments rather than sources of revenue. AstraZeneca, with a market value exceeding £160 billion, has recently withdrawn substantial investments due to lack of government support. Increased taxes on pharmaceutical companies heighten concerns about maintaining current listings and the long-term strategy towards life sciences in the UK.
The loss of AstraZeneca, were it to happen, would be a devastating blow to the London Stock Exchange. Is it not therefore very important, if we are to retain the listings, that the Government have a supportive policy for life sciences in particular?
The Government also increased the rebate payable by pharma companies from drug sales from 15% to 22% - a stealth increase if ever there was one. Is it not important that, if we want to retain the listings, which will mean retaining the research, development and employment, we have a proper strategy with these companies and do not just regard them as cash cows but valuable investments to be encouraged?
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