In the last week, BIVDA have provided submissions to the Treasury ahead of the Budget on the 26th November and to the Commons’ Science, Innovation and Technology Committee for their emergency inquiry into life sciences investment in the UK.
The latter was prompted by high-profile withdrawals from the UK’s life science sphere, notably Merck’s recent decision to scrap a £1bn expansion. BIVDA provided a number of recommendations to the committee which would help to boost life sciences investment in the UK.
These included measures which would help to improve uptake and adoption of in vitro diagnostics in the UK, deliver improved procurement practices, and make the UK a more attractive launch market.
In our targeted Budget submission, we urged the Treasury to reallocate revenue budgets into capital budgets for the purchasing of diagnostic equipment. We argued that this would result in greater NHS efficiencies over the long-term while also creating a preferable arrangement for suppliers.
