PwC comments on the government's life sciences sector plan

Stephen Aherne, pharmaceuticals and life science leader at PwC UK, said: 

“The government’s life sciences sector plan is a welcome step in leveraging the UK’s world-leading life sciences ecosystem to bolster economic growth and help transform the country’s healthcare system. However, while the strategic investments outlined in the plan are promising, there is still room for more focus on crucial partnerships between the NHS and the life sciences sector, which are essential for advancing diagnostics, treatment, and productivity.

“The commitment to unlocking the NHS’s rich, yet largely untapped data, and the underutilised potential of commercial clinical trials present significant opportunities. Harnessing these resources effectively could improve market access for new, innovative medicines and shift to a more preventative healthcare system, attracting additional investment to the UK.

“In addition, challenges such as talent shortages and rising visa costs may impact the UK's ability to attract and retain global expertise. Combined with the precarious financial situations of universities, which are key drivers of innovation, there is a risk of undermining the infrastructure essential for discovery and commercialisation.  

“While recognised as a challenge in the sector report, the UK's current record in approving, reimbursing and adopting innovative medicines is relatively poor compared to other countries. The proposal for joint advice and parallel approvals between the Medicines and Healthcare products Regulatory Agency (MHRA) and National Institute for Health and Care Excellence (NICE) is a welcome action. Nevertheless, both the cost effectiveness models for assessing whether a therapy should be reimbursed and the commercial models for reimbursing therapies, remain controversial. With a sector plan that seeks to partner and collaborate more with industry, a more holistic view on reimbursement may be required.

“It’s pleasing to see a realistic appraisal of the challenges, and the development of an action plan to meet them. Certainly, we believe that tackling these issues could significantly bolster this crucial sector, ensuring a strong, innovative, and globally competitive ecosystem for the UK.”