Comment: The UK Government's strategic approach to the biotechnology industry
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Comment: The UK Government’s strategic approach to the biotechnology industry Lord Sainsbury Date received: 20th January, 2003
Abstract Keywords: support industry, science base, finance, fiscal and regulatory
The UK Government recognises that biotechnology is a key industry for the future and is determined to create the best possible conditions to continue the sector’s growth and success. This paper addresses the key initiatives being taken by government.
INTRODUCTION The UK is one of the best places in the world for biosciences. UK scientists have been responsible for many of the fundamental discoveries that have led biosciences to be one of the prime drivers of the twenty-first century, and the need to maintain and build the strength of the UK science base is a priority for the UK Government. The UK is well placed in the European biotechnology scene. There are almost 4001 dedicated biotechnology businesses in the UK, employing just over 18,7001 people, and the UK accounts for almost three-quarters of public biotechnology companies in Europe. UK annual revenues in 2001 of around £1.8bn1 are almost three times those of its closest European competitor. The UK’s biotechnology sector is the largest in Europe, and second only to the USA, supported by its greater maturity and much stronger product pipeline. UK companies account for 49 per cent2 of products in the pipeline by European public companies. Also, 62 per cent2 of biotechnology drugs in Phase III trials in Europe are from the UK.
A WORLD-CLASS SCIENCE BASE The UK boasts an excellent science base, with favourable economic and political
conditions, and a clear and fair regulatory regime. A clear example of the UK’s science success is the recent Nobel Prize in Medicine to Sir John Sulston and Sydney Brenner for their groundbreaking work in genomics. The UK government recognises the need to maintain and develop this world-class science base, and has significantly increased its funding of research, facilities and incentives for knowledge transfer in the last three Government Spending Reviews. In 1997/98 the Science Budget was £1.3bn, and in this year’s Comprehensive Spending Review the Science Budget will grow by an average of 10 per cent a year in real terms and will reach £2.9bn by 2005/6.
KNOWLEDGE TRANSFER The Government has also taken a number of initiatives to encourage knowledge transfer from the research base. For example, University Challenge, which provides seed corn funding to universities, Science Enterprise Centres, which provide access to entrepreneurial skills to undergraduates and graduates in science and engineering, and the Higher Education Innovation Fund, which provides funding to universities to encourage them in knowledge transfer.
& HENRY STEWART PUBLICATIONS 1478-565X. J O U R N A L O F C O M M E R C I A L B I O T E C H N O L O G Y . VOL 9. NO 3. 189–191. MARCH 2003
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Comment
The government supports a number of initiatives aimed at speeding up the diffusion throughout industry of advances in science and technology. One of these i
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