Medicines trade balance slips
Britain’s trade surplus in pharmaceuticals fell by 5.5 per cent to £3.4bn last year.
The latest figures from the Association of the British Pharmaceutical
Industry show that not only has the pharmaceutical balance of trade slipped,
but companies are also reducing spending on research and capital development.
R&D expenditure in 2003 — the latest year for which figures
are available — fell from £3.3bn to £3.2bn and expenditure
on buildings and equipment fell to £753m, compared with a five-year
average of £925m.
Announcing the figures this week, ABPI president Vincent Lawton said: “It
is not always easy to identify precisely why so many key areas should
have dipped, but it is clear that the continuing threat posed by animal
extremists is a contributory factor.”
He added that the figures provided a warning that the industry, which
is the most highly regulated industry in the UK, should not be overburdened
with bureaucracy.
“We are operating on a global basis and no company can be expected
to invest in the UK if the environment here is not sufficiently welcoming.” |
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Pharmaceutical Journal
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