As the UK Government continues its mantra that Britain is ‘open for business’, the country’s world-leading life sciences sector is set to receive a huge £279m boost thanks to the world’s largest pharmaceutical company.
Eli Lilly, which is defined as the largest pharma company by market cap, has signed a memorandum of understanding with the government, announced at yesterday’s International Investment Summit.
Groundbreaking innovation
As part of the new partnership, Eli Lilly will launch a Lilly Gateway Labs innovation accelerator in Europe in a move that will help smaller life sciences companies develop transformative medicines by providing them with:
- Lab space
- Mentorship
- Financial backing
This comes as the first facility of its kind across the whole continent – something which the government believes cements the UK as a global trailblazer in the sector. It will build on the 300,000 jobs the life sciences sector already supports nationally.
“This announcement helps the UK take its place as a world leader in life sciences and brings life-changing treatments closer to being a reality for NHS patients,” said health secretary Wes Streeting on this. “Partnerships like this are key to building a healthier society, healthier economy, and making the NHS fit for the future.”
Peter Kyle, the technology secretary, echoed this sentiment, hailing the news as proof the UK is “held in high esteem internationally”. “The UK’s life sciences sector is at the forefront of pioneering and life-saving research,” he said.
A focus on obesity
One of the collaboration’s main targets will be to tackle obesity – something that costs the NHS over £11bn a year, according to the government. It is also the second biggest preventable cause of cancer (with the first being smoking).
The partnership will enable government, NHS, and industry minds to better understand obesity and subsequently trial innovative approaches to tackling it.
An agreement between government & pharmaceutical company @EliLillyandCo to speed up delivery of future medicines was signed today.
@peterkyle & @wesstreeting met CEO Dave Ricks to announce plans for a new life sciences business innovation hub & obesity drug trials. pic.twitter.com/9p5AS9DFi2— Department for Science, Innovation and Technology (@SciTechgovuk) October 14, 2024
This comes as the National Institute for Health and Care Excellence still has an open consultation on the roll-out of tirzepatide, Eli Lilly’s weight loss drug which is better known as Mounjaro.
NHS England’s national clinical director for obesity, Dr Clare Hambling, recently called for societal reform following data from the second part of the organisation’s Health Survey for England 2022. It found that nearly three in 10 (29%) adults are living with obesity, with more than double that figure (64%) classifying as overweight.
NHSE’s CEO, Amanda Pritchard, said: “Obesity is one of the biggest public health issues we face, and we know weight loss drugs will be a game-changer, alongside earlier prevention strategies, in supporting many more people to lose weight and reduce their risk of killer conditions like diabetes, heart attack and stroke.
“Today’s momentous agreement shows the NHS is uniquely well-placed globally, not just to bring effective new treatments to those who would benefit most, but also to support science, research, jobs and economic growth across the country.”
Image credit: iStock