Pharmaceutical Woes: UK's Investment Landscape Under Scrutiny
Britain's pharmaceutical sector faces scrutiny as Merck halts its London research center plans, citing lack of investment and undervaluation of innovative medicines. Pressure from the U.S. and new challenges make the UK a less attractive option for pharmaceutical investments, decreasing its ranking in global FDI.
Britain is defending its record on attracting investments after Merck, a major U.S. drugmaker, announced it was abandoning plans for a new London research center, citing a tough business environment.
Despite its industrial strategy prioritizing life sciences, Britain's pharmaceutical sector faces setbacks, including AstraZeneca forgoing plans for a vaccine plant. Industry observers say the UK struggles with investment and undervaluation challenges. Additionally, pressure from the U.S. President to favor homegrown manufacturing is influencing decisions.
Negotiations continue over UK drug pricing policies, while Britain's FDI ranking drops, making it a less attractive investment location. The government remains optimistic but acknowledges concerns post-Merck's decision.
(With inputs from agencies.)
Google News