Oral Answers to Questions

Debate between Gareth Davies and Ian Levy

Tuesday 7th May 2024 Commons Chamber

[Ian Levy (Blyth Valley) (Con)]

Cramlington has a world-leading pharmaceutical company, Organon, which employs 700 people and produces medicine for the UK market as well as abroad, with a particular focus on women’s health. Will my right hon. Friend the Chancellor please meet me to discuss the impact on pharmaceutical investment?

[Gareth Davies]

My hon. Friend is absolutely right. The pharmaceutical industry is worth some £14 billion to our economy. I am pleased to tell him that the industry has seen a twelvefold increase in equity financing in just the past decade, and I would be pleased to meet him to discuss that further.