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Add to Preferred SourcesThe UK’s ability to respond to future pandemics will be strengthened thanks to a new £20 million fund to expand medicines manufacturing, Prime Minister Boris Johnson announced on Monday, 30 November.
The Prime Minister will launch the Government’s new capital investment fund, the Medicines, and Diagnostic Manufacturing Transformation Fund while visiting North Wales.
This will open-up investment opportunities for medicines manufacturers in England, Scotland, and Wales – improving domestic medicine supply chains and creating thousands of highly skilled jobs in the process.
This will put UK companies ahead of global competitors in advanced medicines manufacturing, while helping them respond to future healthcare needs – and increasing the overall health resilience of the UK.
“This new £20m fund will significantly increase the capacity and resilience of our medicines and diagnostics manufacturing supply chains and equip us to fight future health crises. Throughout the pandemic, we have seen a coming together of British scientific industry and innovation and this new fund will enhance the UK’s manufacturing capabilities even further,” said Prime Minister Boris Johnson.
The pandemic has shown the importance of having a strong domestic medicines and diagnostics manufacturing industry. This new fund has been established to grow and strengthen the UK’s capabilities, by encouraging companies to develop new technologies, build new factories, and harness new advances, including bioprocessing, data, and using greener manufacturing processes.
With two-thirds of life science manufacturing jobs already outside London and the South East, the fund will also open-up economic opportunities in different parts of the UK, creating thousands of new, highly skilled manufacturing jobs while safeguarding existing jobs.
Original source: FCDO