The ABPI has released figures showing £508 million has been invested in collaboration in the UK, including £377 million of industry investment in research and development.
The Association of the British Pharmaceutical Industry (ABPI) collated figures recorded by pharmaceutical companies themselves in order to show the impact made by the industry on the UK economy.
The Chief Executive of the ABPI, Mike Thompson, said:
“The continued investment from companies is excellent news at a time of economic uncertainty and signals the strength of the sector in the UK. We can’t discover or bring to market new medicines without the expertise of doctors and nurses. It’s vital that companies can collaborate with those people, and that we’re open and transparent about any payments we make to them.”
The figures highlight the benefits of transparency in financial dealings between the industry and other bodies – in learning how this money is spent, the public perception of the industry may become more positive.
A more detailed breakdown of the figures is available on the ABPI website.