London boasts Europe’s largest life science market and is the UK’s leading location for life science research and development

10 key facts about the life sciences sector in the London and the UK.

• Second largest: The UK is the world’s second largest biotechnology sector after the USA with 455 bioscience companies, employing over 22,000 people generating $6.8 billion revenue [1]. 
• Booming pharmaceutical industry: Pharmaceuticals consistently feature in the top three UK trade surplus ($6.4 billion in 2005).  The industry employs around 73,000 people and generates another 250,000 jobs in related industries [2]. 
• Significant R&D: UK pharmaceutical companies spend 20-30% of their gross output on R&D, representing nearly 25% of the total industrial R&D spend.  In 2004, $6 billion was invested in R&D.  Almost 20% of the world’s top medicines were developed in the UK [3]. 
• Top brand base: The UK’s two largest pharmaceutical companies, GlaxoSmithKline and Astrazeneca, are in the world’s top 10 and the remainder have a significant UK presence, i.e. Pfizer, Sanofi Aventis, Johnson & Johnson, Merck, Novartis, Roche and Wyeth. 
• London’s Predominance: London is home to over 100 biotechnology companies, five internationally renowned medical schools, 1,300 biomedical researchers in 28 universities and over 50 clinical research centres [4].   
• Funding Opportunities: The UK has the second most developed environment for venture capital funding after the US and accounting for almost 75% of Europe’s publicly quoted biotechnology companies.
• London Stock Exchange: In 2001, The London Stock Exchange (LSE) launched the world’s first dedicated index for innovative technology stocks.  Pharmaceutical and biotech companies make up almost 10% of those listed onAIM (Alternative Investment Market), established in 1995 for smaller growing companies.
• Government Support: The UK government has demonstrated strong support with $189 million investment in clinical research infrastructure.  In March 2007, UK Prime Minister Tony Blair launched a wide-ranging review to strengthen the pharmaceutical and biotechnology sectors examining how to increase funding and incentives.
• Efficient Regulation: London is home to key regulatory and industry bodies including:
  • EMEA (European Medicines Agency)
  • MHRA (Medicines and Healthcare products Regulatory Agency)
  • ABPI (Association of British Pharmaceutical Industry)
  • BIA (BioIndustry Association)
• Other useful contacts:
  • London Biotechnology Network
  • Biosciences Federation
  • BioLondon
  • London BioScience Innovation Centre
  • London Technology Network

We provide access to professional service providers, trade bodies, London universities and central and local government — including  The London Biotechnology Network. We also provide outstanding networking opportunities. Some of our clients include Amgen, Sosei Co Ltd, Intas Pharmaceuticals and Sucampo Pharma Europe.

Contact us to find out how we can help your company grow. 

[1] Biotechnology in the UK, UKTI
[2] The Association of the British Pharmaceutical Industry
[3] Ibid
[4] London Biotechnology Network