Life Sciences Businesses

Baroness Finlay of Llandaff Excerpts

Monday 26th February 2024 Lords Chamber

[Lord Johnson of Lainston (Con)]

I sometimes feel that the noble Lord, Lord Fox, asks the perfect question, though we have not collaborated. Tomorrow, I have just such a trilateral meeting, between DSIT and the Department of Health, the Office for Life Sciences and the Department for Business and Trade. I totally agree with the comments made by businesses about the siloing of government, which I am afraid is an issue we all face. This working group will have enormous power in trying to drive change and there are a number of things I want it to do. First, I want it to try to identify key companies around the world that we want to bring to the UK. Secondly, it should look at how we scale up the existing opportunities we have. The noble Lord is absolutely right, and I am delighted that tomorrow will mark the first event of which he has spoken.

[Baroness Finlay of Llandaff (CB)]

My Lords, the Minister referred to the position of the US as being in advance of the UK in life science innovations. Our universities increasingly recognise the critical need to put innovations and discoveries of patient benefit through start-ups and scaling. However, costs and complexity are driving start-ups to pursue regulatory approvals via the US FDA, rather than here. This means that patients get biotech and medtech advances far later than those across the Atlantic, even from UK spin-outs. What are the Government doing to remove the redundancy and repetition to incentivise UK companies to pursue NHS deployment in this very competitive global market?

[Lord Johnson of Lainston (Con)]

I am grateful to the noble Baroness for her prompting. The Government have put more money into the MHRA, specifically for clinical trials, to assist all of our agencies to license more effectively and faster. As Minister for better regulation, it is part of my specific project to drive innovation. Clearly, this is not without risk, but, if we are to own the IP and lead the world, it is essential that we must go faster. That applies not just to the regulators but to government departments. We are working hard on this, but I appreciate the challenge.