To build an NHS ‘fit for the future’, we must unlock growth in the life sciences industry

Guy Oliver, General Manager, Bristol Myers Squibb UK and Ireland

On behalf of Bristol Myers Squibb (BMS), I would like to congratulate new and returning MPs on their election victories. We look forward to supporting you during this parliament to build an NHS fit for the future and unlock the potential of the life sciences industry to drive growth and transform the NHS.

BMS is a global biopharmaceuticals company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. We have a strong UK heritage, with sites in Moreton, Chester and Uxbridge and an annual economic footprint of £1bn in GVA.¹ Headquartered in New Jersey, we are also proud to be the voice of US industry on the Life Sciences Council.

Securing economic growth and health improvement through UK life sciences

We are encouraged by the emerging cross-party consensus on the benefits and growth potential of the UK’s life sciences sector, which contributes over £40bn of GVA to the UK economy.² A strong sector also supports the NHS, from advancing clinical research, to harnessing new technology to build an NHS ‘fit for the future’.

To meet this potential, the government, NHS and industry will need to go further to ensure the NHS can keep pace with scientific innovation. In time, this will mean looking at long-term issues, including the need to change the way we capture the value of medicines.

But there is one area where the NHS and government could act today to deliver ‘triple wins’ to patients, the NHS and the UK economy: uptake of innovation.

Driving progress on medicines uptake

Over the past year, BMS has proudly supported three initiatives which are practical examples of how the NHS and government can improve uptake around the country to drive the health and growth missions simultaneously. We have also identified where performance targets and incentives could be repurposed to support the NHS to achieve this higher uptake.

The first initiative establishes the major research and investment opportunities stemming from improved uptake. We identified a positive correlation between the ‘research intensity’ of an NHS Trust (e.g. ongoing clinical trials) and medicines’ uptake. We have worked with cross-party advisors, industry experts and trade bodies to enable policymakers to see in real-time the impact that improving the uptake of medicines via investment in research-intensive hospitals can have on attracting foreign direct investment (FDI), thus encouraging investment into the UK by creating a virtuous cycle between improved uptake and investment.

For the other two projects, we have worked with Macmillan Cancer Support and NHS Trusts to deliver partnerships on how to improve cancer care. A free-to-use Workforce Planning Tool for NHS Trusts to forecast emerging needs in cancer care, ensuring that their workforces are prepared with the right skill sets for future innovation.

The third project has led to the development of a model to expand prehabilitation services into non-surgical settings, meaning NHS patients are more able to benefit from treatments. This can free up capacity by speeding up the treatment journey of newly diagnosed patients.

What benefits these types of partnerships bring to the UK

Patients stand to benefit the most from the improved use of new treatments, be this because Trusts are more accustomed to a new technology, they are fit enough to receive the treatments, or a treatment is available through a clinical trial. Yet there are benefits for industry too, which confirm the ‘triple win’. A commitment from government to develop the forward-looking indicators of the first initiative, paired with the adoption of the two models built with NHS Trusts and Macmillan, would show commitment to the life sciences industry that the government is open to practical solutions to address uptake.

The correlation between research intensity and uptake also means industry may be more inclined to bring research to the UK, including targeted investment to Trusts that offer the potential of achieving research intensive status, but which sit outside of the South East and key urban areas. This could lead to an even spread of health-based economic growth zones right across the UK.

Acting now to realise the new government’s ambitions

The next five years of this parliament represent a critical juncture for the NHS. Ensuring a life sciences sector that can work in partnership with policymakers to provide solutions will be critical to its success.

Worldwide, competition for life sciences investment is intense, and the UK is losing out to international competitors. The total value of FDI in the UK fell by 21 per cent to £0.8bn from 2022 to 2023.³ This follows a £0.9bn fall in FDI the year before,⁴ leading to a total fall in FDI of 52 per cent in just two years.

BMS is proud of our work to develop tangible solutions to some of the most pressing challenges the UK is facing. We are committed to helping build an NHS fit for the future and believe the life sciences industry has a critical role to play in improving the health and wealth of our nation. US industry will be particularly important, since US-headquartered businesses account for more than half (51 per cent) of FDI in UK life sciences.⁵

To learn more about the work BMS is doing to support these ambitions and hear our perspectives on how they can be achieved, please reach out to: jagtar.dhanda@bms.co.uk

NO-GB-2400202 August 2024

1. BMS Internal Data

2. https://www.pwc.co.uk/press-room/press-releases/uk-life-sciences-sector-contributes-43-3-billion-in-gva.html

3. https://www.gov.uk/government/publications/life-sciences-sector-data-2024/life-sciences-competitiveness-indicators-2024-summary

4. https://www.gov.uk/government/publications/life-sciences-sector-data-2023/life-sciences-competitiveness-indicators-2023

5. BMS Internal Data

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