Life Science businesses injecting £10bn in to Northern Powerhouse
Life Science businesses in the Northern Powerhouse are contributing over £10.8bn to the UK economy each year, as well as helping support over 38,000 highly skilled jobs.
The data, released by George Freeman MP, Minister for Life Sciences, also showed there are 1,000 life and health science companies in the Northern Powerhouse, with 97% of these companies are SMEs providing a strong supply chain for new investors to the region.
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 MP 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 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).
Professor Ian Greer, NHSA chair, and Vice-President and Dean of The University of Manchester’s Faculty of Medical and Human Sciences, 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 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 £4m investment in AMR therapeutics development Medicines Discovery Catapult. Worth £4m, 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 £550m invested by AstraZeneca in 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.
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular Yorkshire & The Humber morning email for free.