Oral Answers to Questions
Debate between Ian Levy and Gareth Davies
Tuesday 7th May 2024
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(7 months, 2 weeks ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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.