A new report by the House of Lords Science and Technology Committee has raised serious concerns over the government’s commitment to delivering the Life Sciences Industrial Strategy.
Medtech
Announced last year, the Life Sciences Industrial Strategy was published as a way for the UK to develop its strength in the sector to benefit the country’s economic growth. The report included a number of recommendations such as, increased collaboration with the NHS, the development of Digital Innovation Hubs for data, attract substantial investment to manufacturers and more.
However, the Life Sciences Industrial Strategy: Who’s driving the bus? report examines key issues that require immediate action if the sector has any chance of developing.
The report states that complicated arrangements and a lack of clear authority raise questions about the government’s commitment to implementing the strategy.
The committee recommend that prompt action by the government is needed due to the NHS’ central role in the life sciences industry. Whilst the strategy has already secured the commitment of the business, charity and academic communities, the infrastructure of the NHS is currently acting as a barrier to the implementation of the strategy.
The report mentions evidence that shows the ‘NHS does not currently have the capacity to rise to the challenge of implementation”. Concerns have also been raised about the structure of the NHS, which the report states “limit its ability to adopt successful innovations”. Whilst the committee mentions the NHS is a ‘willing player’, it states that there have been no “high-level discussions on implementing the strategy across the NHS”.
The committee is thus urging the NHS to give more priority to the uptake and spread of innovation and to reward clinicians and managers who make adoption successful. The committee also recommends that the government should explore financial incentives for NHS Trusts that adopt and spread proven innovations.
To ensure the success of the strategy, the committee recommends there should be a single body to oversee its implementation. The Life Sciences governing Body – as it would be called – would need backing by the government delivered by the Business, Energy and Industrial Strategy secretary and the Health and Social Care secretary.
The Life Sciences Industrial Strategy aims to create four UK companies to be valued at over £20 billion in the next 10 years. The committee however says evidence shows that the UK is relatively poor at growing SMEs into larger companies. To combat this, there needs to be a significant increase in the scale of patient investment capital available to help innovative firms grow.
Chairman of the committee, lord Patel, said: “If implemented correctly the Life Sciences Industrial Strategy will make a major contribution to the future economic prosperity of the UK but what became clear throughout our inquiry is that it stands little chance of success without a detailed plan for implementation and clear lines of authority, responsibility and accountability.
“The government has an opportunity right now to get ahead of international competition. It can, and must, take bold steps to secure the future growth and expansion of the life sciences sector. This is even more vital as the UK prepares for life outside the European Union.”
