According to the Government’s Life Science Competitiveness Indicators Report uptake of innovative products launched between 2007 and 2012 was slower in Britain than in 16 other industrialised countries and it wants to act. This is despite PhRMA’s 2015 Biopharmaceutical Investement and Competitiveness survey finding that the UK is second only to the US amongh 16 markets in overall attractiveness to biomedical investment.
So in June our Government has unveiled an Accelerated Access Review initiative, aiming to tackle the uptake problem.
We know that companies do find it frustrating in this country, and further, that markets like America provide much greater pay off once your product is adopted.
So what is the Government going to do about it through this ‘Accelerated Access Review initiative, and why will it matter to projects that Creative Places are working on?
Details of the initiative
- Expert advisory group involving industry
- A review of the need, priorities and principles for innovation
- Consideration of how national funding models can be better aligned to drive innovation
- Speed up local adoption and subsequent diffusion
Why it matters to our projects
- This will help drive us towards a more holistic, productive, research and health system, long advocated by the Association of the British Pharmaceutical Industry. To be more holistic and productive, we believe closer collaboration and co-location will be needed
- Leaders of the Accelerated Access Review are advising that with a strong science and national healthcare system in the UK there is untapped potential for greater research involvement to be translated into improved health. Tapping that potential must involve centres of excellence growing.