Life Sciences Investment Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
Jim Shannon
Main Page: Jim Shannon (Democratic Unionist Party - Strangford)Department Debates - View all Jim Shannon's debates with the Department for Digital, Culture, Media & Sport
Life Sciences Investment
Jim Shannon Excerpts(1 day, 13 hours ago)
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Ian Murray
I would say to life sciences students in the fledgling part of their career that it is a career they should be in for the long term. Life sciences is the future, which is why it is one of the eight key sectors in our industrial strategy. The news the Government have had today on MSD’s commercial decision is incredibly disappointing, but lots of wonderful stuff is going on in the sector, so we should not talk it down. Moderna is investing more, BioNTech is investing more, Isomorphic Labs is investing more, and RoslinCT in my constituency is investing more. Right across the Chamber today we have heard about the companies that are investing more in life sciences. It is a growing industry, so I say to fledgling academics and people who want to get involved in the industry: get in there.
Jim Shannon (Strangford) (DUP)
I thank the Minister for his answers. I think we are all seeking reassurance in relation to the sector. The news that MSD has withdrawn its plan for a research centre in the United Kingdom, with the loss of 125 potential jobs and staff, is devastating for our science plans. It shows a lack of faith in long-term planning by the investors we are so reliant on. How will the Minister seek to reassure global partners that science investment is a priority for this Government? Will we see a swift return of investment to the United Kingdom of Great Britain and Northern Ireland?
Ian Murray
Our workforce are the very best in the world, and our world-class institutions are made world class because of that world-class workforce. This is the best place in the world to invest at the moment. We are in discussions with the US in respect of the pharmaceutical industry and the tariffs in the EU-US economic deal. Lots of positive stuff is going on in the industry, and if we are to send out one message to the industry from the House today, it is that the industry is thriving. It is one of the eight key sectors in our industrial strategy and this Government back it. We are backing it with money, with our strategy, and as a whole Government.