Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what support he is providing to businesses in the pharmaceutical sector to (a) expand their premises and (b) manufacture more products.
In 2021, the Government published the Life Sciences Vision, which set out an ambition to create a globally competitive environment for Life Science manufacturing investments. To help meet these ambitions and incentivise globally mobile manufacturing investments in the UK, the Office for Life Sciences launched the £60 million Life Sciences Innovative Manufacturing Fund (LSIMF) in March 2022. The LSIMF will provide capital grants for investment in the manufacture of human medicines (drug substance and drug product), medical diagnostics and medical technology products. The fund has received a large number of high-quality applications and we expect to announce the successful grant awards from spring 2023.