"The decision, which includes shutting down discovery research operations in the UK with the loss of 125 jobs, underscores growing unease among global drugmakers about Britain's regulatory and pricing environment. Merck said successive governments had failed to address "the lack of investment in the life sciences industry and the overall undervaluation of innovative medicines and vaccines", citing in particular the NHS's restrictive approach to new treatments."
"Its withdrawal follows the collapse of talks between ministers and the industry over reforming the voluntary branded medicines pricing scheme, which limits NHS spending on innovative drugs. The timing is also notable: the Association of the British Pharmaceutical Industry has published a report, produced with PwC, warning that the UK is slipping behind international rivals in attracting foreign direct investment and commercial clinical trials."
Merck has scrapped a £1 billion plan for a new London headquarters and halted construction of a 25,000 sq ft research centre in the Knowledge Quarter, previously scheduled to open in 2027. The company will close discovery research operations in the UK, resulting in 125 job losses. Merck blamed successive governments for failing to address weak investment in life sciences and the undervaluation of innovative medicines and vaccines, and criticised the NHS's restrictive approach to new treatments. The move followed collapsed talks over reforming the voluntary branded medicines pricing scheme and echoes concerns from other major drugmakers about UK policy and investment.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]