Life Sciences businesses in the Northern Powerhouse are contributing over £10.8 billion to the UK economy each year according to Geroge Freeman, life sicence

Northern Powerhouse receives £10.8bn from life science companies

George Freeman, minister for life sciences, has revealed that Life Science businesses in the Northern Powerhouse are contributing over £10.8 billion to the UK economy each year

The published data also showed that there are 1,000 life and health science companies in the Northern Powerhouse, with SMEs making up 97% of these companies.

It was also revealed that these companies manufacture and export over £8.1bn of medicinal and pharmaceutical products per year.

Announcing the data at the BioTrinity Conference in London, life sciences minister, George Freeman, said: “This data shows that the UK’s £56 billion life sciences industry is a powerhouse in the Northern economy.

“Through our life sciences strategy we are creating jobs, opportunities and security across the North. With its world-leading universities, innovative life sciences companies and millions of NHS patients across the region, the North has unique capabilities with excellent growth potential for international investors.”

The statistics originate from the 2015 Strength & Opportunity Report.  The data forms part of a new Northern Powerhouse life sciences brochure created to drive inward investment into the thriving life sciences sector in the North.

The work was commissioned by UK Trade & Investment (UKTI) and was created in collaboration with the Northern Health Science Alliance (NHSA).

NHSA chair, and vice-president and dean of The University of Manchester’s Faculty of Medical and Human Sciences, Ian Greer said: “The great universities and NHS organisations of the North have been working collaboratively with each other and industry to establish some of the most advanced facilities populated by world-leading experts in their field.

“Together with a 15 million population there is a massive untapped resource for international investors and industry to work with the Northern Powerhouse for mutual benefit.”

The brochure showcases the world class facilities that the North has to offer such as:

The £38m National Biologics Manufacturing Centre within the Centre for Process Innovation (CPI) which will host the £20m CPI Biologics Factory of the Future.

The UK Antimicrobial Resistance Centre – a £4 million investment in AMR therapeutics development Medicines Discovery Catapult – worth £4 million the Catapult is a joint private-public initiative to support the development of new antibiotics and diagnostics through a fully integrated development capability, offering translational R&D from pre-clinical hits through to clinical proof of concept

Alderley Park in Cheshire – With over £550 million invested by AstraZeneca in world-class facilities and infrastructure over the past decade, Alderley Park is one of the best invested bioscience R&D sites in Europe.

The North also boasts one of the Europe’s strongest clusters in biological, medical and surgical manufacturing with Eli Lilly, Allergan, Fujifilm Diosynth Biotechnologies, Seqirus, JRI Orthopaedics, and DePuy Synthes based there.



About


'Northern Powerhouse receives £10.8bn from life science companies' has no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© 2019 Rapid Life Sciences Ltd, a Rapid News Group Company. All Rights Reserved.

Privacy policy

Terms and conditions