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CEO Update | 27 March 2023
The UK Government published last week the long-awaited response to the consultation on proposals to improve the UK clinical trials legislation, with a foreword by life science champions Sir John Bell and Sir Jon Symonds. These reforms represent the biggest overhaul in UK clinical trials regulation in over 20 years and will make the UK one of the best countries to conduct clinical research for the benefit of patients and the life sciences sector. Continue reading for details on upcoming events, UK Parliament scrutiny of SVB Collapse, and more.
CEO Update | 20 March 2023
The Budget last week had major wins for BIA members including changes to R&D tax credits rates for loss-making SMEs. Read our press release and Martin’s analysis blog. This is a major, major win for a BIA campaign and wouldn’t have happened without member engagement and perseverance. Many thanks to all who helped – this non dilutive government co-investment will make all the difference as you crowd in private sector investment.
Spring Budget analysis: Chancellor delivers a boost for biotech
The Chancellor has revealed an enhanced R&D tax relief rate for “R&D intensive SMEs” and delayed restrictions for claims on overseas activity following the BIA’s campaign. In a Spring Budget designed to show he has a steady hand on the tiller and a plan to put wind in the UK’s sails, the Chancellor’s Spring Budget was packed full of announcements for the life sciences sector, including a funding boost for the medicines regulator and investment zones around the UK.
Chancellor gives boost to medical innovation and life sciences industry in Spring Budget
The UK’s Chancellor, Jeremy Hunt, has announced a special higher R&D tax relief rate for the UK’s most innovative businesses in his Spring Budget today (15 March). The UK’s trade association for innovative life sciences and biotech, the UK BioIndustry Association (BIA), has warmly welcomed the announcement.
CEO Update | 13 March 2023
What a weekend. The strategic risk to our sector resulting from the run on Silicon Valley Bank (SVB) has been averted. HSBC has come in to buy SVB UK and we now have a major UK bank supporting our growing industry for the years ahead.
CEO Update | 6 March 2023
The discussion about whether the UK is a globally competitive drug market with pricing, uptake and usage to match science superpower ambition broke through into public debate this week as the ABPI published key documents ahead of the 5-year Voluntary Scheme for Branded Medicines Pricing and Access (VPAS) negotiations starting next month. This is set to be a key discussion through 2023. Continue reading for updates on the Innovate UK and London Stock exchange linkup, what we should be expecting ahead of next week's Spring Budget, the new Science and Technology Framework, and more.
CEO Update | 27 February 2023
With just three weeks left until the Spring Budget, it will be a key moment for the life sciences sector following the R&D tax relief rate cut announced at the Autumn Statement. The Chancellor has since written to BIA stating that he sees “merit” in the case for further support for life science SMEs impacted by the cut, but the demands on the UK’s public finances leave significant uncertainty in what can be delivered. Read on for Redx Pharma merger, new Chief Scientific Officer and more!
Diagnostics industry helps MHRA shape IVDs roadmap as part of future UK regulation
The MHRA will build its new UK system of medtech regulation on seven regulatory pillars, one of which is an IVD roadmap, says diagnostics industry association BIVDA. The trade body gave an update on the focus groups, UKAB numbers and timings for three awaited statutory instruments.
CEO Update | 20 February 2023
I’m looking forward to seeing many of you at this year's BIA Committee Summit this Thursday – always a vibrant and engaging event with BIA member expertise overflowing the venue – which this year is Church House in Westminster. The idea of the day is for each of our expert Advisory Committees to hold their first meeting of the year in the same place at the same time – so they can come together in a plenary session to understand common themes and make connections.
Everything you need to know about Biden's bioeconomy initiative
President Biden issued an executive order in September which aims to catalyse the growth of the US bioeconomy. Herbie Lambden, Policy and Public Affairs Executive at BIA, investigates the policies and what they could mean for UK companies.