The life sciences industry represents one of the important economic sectors in the UK, with a high productivity compared to other sectors. It generates a wide range of products and it is widely distributed across the whole of the UK, therefore bringing significant jobs and growth to virtually every region. It is, in fact, a major component of the country’s current economic base, with the sector generating £64 billion of turnover, and employing more than 233,000 scientists and staff. It is also one of the most highly regulated and globally harmonised industry sectors, with a substantial proportion of the relevant regulation currently originating from membership of the EU in the form of Directives or Regulations.This might – or might not – change on March 30th, 2019, when the UK is set to leave the EU.
With the UK being the first Member State to leave the EU, it remains unclear exactly how BREXIT will affect legal and regulatory requirements for the biopharmaceutical industry in the UK and Europe.
Researchers and industry leaders are understandably very worried about how BREXIT will affect research collaboration, product development, and the ability of companies in the UK to continue working with their continental partners. It is also likely that (as for other industries) BREXIT will limit the movement of both people and materials between the UK and Europe, potentially making it harder and more time consuming to conduct research and clinical trials.
On the other hand, however, the combination of a strong science base, a vibrant commercial sector in health and a comprehensive, engaged, data-rich healthcare system could provide an ideal environment for the UK to lead in many of these emerging areas of life science and to create globally successful new industries. City & Financial Global’s BREXIT for the Life Sciences Summit, taking place in London on May 22nd
, is going to be discussing both short-term and long-term strategies to navigate BREXIT successfully and retain the current status as Life Sciences Hub, in Europe and beyond.
The UK’s commitment to this sector should be viewed in the context of the Government’s wider Industrial Strategy agenda and its specific Life Sciences Industrial Strategy, capitalising on a strong science base and which addresses the issue of scaling small companies to create more mature enterprises. New attempts to build on manufacturing advances are being fostered and new partnerships with the NHS – where industry and the health system work together – are being encouraged.
In order to retain the UK’s competitive edge in this sector, a sustained effort over a longer period of time is required with the ability to look beyond the current immediate uncertainty. The proposals in the Life Sciences Industrial Strategy are designed to be thought about in that context, with both industry and Government having responsibilities and commitments over a longer time frame.
The summit will bring together leading experts to provide a cross-cutting view of the implications of Brexit for the future of UK Life Sciences, analysing possible scenarios and preparing for the fundamental changes that lie ahead. The event will address the key questions that will help senior management prepare for all the possible outcomes that may arise.
Through an unparalleled panel of speakers and panellists the Summit will:
- Analyse all possible solutions to maintain the current UK’s competitive edge in the sector
- Help companies looking beyond the current short-term uncertainty and visualising possible future scenarios
- Focus on R&D investments and how to seize the partnership potential
- Explain how to foster investments within the UK: Including new tax regimes, flexible investments and innovation
- Zoom in on the future of EU Research Programmes in the UK
- Present strategies to modernise the current framework and reduce administrative burdens for Clinical Trials
- Outline the potential strengths and limitations of post-BREXIT manufacturing, trade, export and supply chain
- Discuss how to maintain the highest safety standards and manage data, risk management, safety and compliance
- Glimpse into the future: How to transform the UK into the most attractive market for international new business
Who should attend