The Life Sciences industry in the UK is highly innovative and dynamic – it is growing faster than the economy as a whole and is a key source of high-skill, high-tech jobs. Pharmaceuticals, medical biotechnology and medical technology sectors together comprise around 4,500 firms, employing 165,000 staff, with an R&D spend of nearly £5bn and an annual turnover of over £50bn. The industry has seen export growth of 31% between 2008 and 2011.
The UK attracts almost 10 per cent of the world’s pharmaceutical R&D funding and is acknowledged as the gateway to Europe.
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Posted by Dan Rutstein
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