- The UK punches well above its weight in scientific research
- But UK biotechs have struggled over the past two years
- Policymakers must encourage inward investment and offer incentives to early-stage companies
The UK’s life sciences sector is often hailed by government ministers as one of its most important. In his Autumn Statement, chancellor Jeremy Hunt said that British-made vaccines and treatments saved more lives during the pandemic than those developed by any other nation.
While there’s no doubt that the UK punches well above its weight in scientific research, the impact of higher interest rates has meant that biotech companies listed on the London Stock Exchange have had little to shout about for the past two years.