One of the UK’s leading businesses within the life sciences space has committed an investment package totaling £44 million in the UK economy in an update to the Life Sciences Sector Deal announced by the UK Government in November 2017 as part of the UK Industrial Strategy. The package includes two key investments - £24m in a new “Prime Site” in the North of England and £20m in a new collaboration with Genomics England. The package was unveiled by the Government this morning in a parliamentary statement.
IQVIA, facilitated by the National Institute for Health Research (NIHR), has committed to opening a fourth UK Prime Site to focus on the delivery of life-changing clinical research across the North of England, which includes investing up to £24m over five years with plans to employ over 50 additional highly-skilled staff to drive additional trials across the UK. The Northern Prime Site will include NHS research-ready hospitals across the Greater Manchester, Leeds and Sheffield region. The new site will embrace a data-enabled approach to the design and delivery of hundreds of additional clinical trials and real-world evidence studies which will benefit thousands of NHS patients. IQVIA currently conducts 25% of all commercial clinical trials within the NHS.
In addition, IQVIA will invest £20m during the next five years in a new partnership with Genomics England to develop services to allow authorised researchers to run studies enabling faster and more efficient drug research, and to develop more robust evidence to support treatment value and greater access to personalised medicines for NHS patients.
This Second Life Sciences Sector Deal is the extension of a previous set of deals announced alongside the UK’s Industrial Strategy in November 2017. Each deal represents a new strategic and long-term partnership with Government, backed by private sector co-investment and will drive investment in the UK’s world-leading research infrastructure and boost productivity within the sector.
Professor Sir John Bell, Chair of the Life Science Industrial Strategy Advisory Board, said: “Investments by well regarded, global companies like IQVIA demonstrate that the UK’s science base is truly world-leading and an exceptional national strength. Such investments will deliver the next wave of innovation that will benefit NHS patients, transform the UK healthcare system, and generate economic growth and improved productivity.”
Secretary of State for Business, Enterprise and Industrial Strategy, Rt Hon Greg Clark MP added: “From the first vaccine to the discovery of DNA, the UK has always been at the forefront of medical endeavour and healthcare innovations. That is why we are building on our unique strengths by placing life sciences at the centre of our modern Industrial Strategy, backed by the biggest increase in public research and development investment in UK history.
“This is our modern Industrial Strategy in action as we work hand in hand with industry to ensure the UK remains the go-to destination for launching new businesses, new discoveries and treatments to benefit health around the world."
Tim Sheppard, Senior Vice President (SVP) and General Manager, Northern Europe IQVIA, said: “This landmark investment package is a demonstration of IQVIA’s confidence in, and its commitment to, the future of the UK life sciences industry. The Life Sciences Sector Deal announced by the UK Government last year was a major step forward for the industry, and IQVIA is proud to play our part in ensuring its future success through this historic and transformative investment.
“Not only will the investment bolster the economy in the North of England through our ambition to create 50 new high-skilled jobs, but the additional research capacity in developing new clinical trials and our partnership with Genomics England will break new ground in our ability to support the delivery of innovative medicines that will be life changing for many NHS patients.
“IQVIA believes in the UK’s potential to be a unique bioscience centre of excellence within the life sciences space, and this investment further supports the UK Government and the industry’s aim to ensure this potential is realised. Importantly, this is also a platform from which we can build even greater sector momentum behind the overall UK Industrial Strategy.
The announcement as part of the Second Life Sciences Sector Deal is a key development in IQVIA’s mission to drive healthcare forward through world-leading clinical trials and real-world evidence providing domain expertise, transformative technology and advanced analytics including artificial intelligence.
IQVIA (NYSE: IQV) is a leading global provider of information, innovative technology solutions and contract research services focused on helping healthcare clients find better solutions for patients. Formed through the merger of IMS Health and Quintiles, IQVIA applies human data science — leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science — to enable companies to reimagine and develop new approaches to clinical development and commercialisation, speed innovation and accelerate improvements in healthcare outcomes. Powered by the IQVIA CORE™, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities. With more than 55,000 employees, IQVIA conducts operations in more than 100 countries.
IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analysing the information that helps their customers drive human health outcomes forward. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviours and scientific advances, to advance their path toward cures. To learn more, visit www.IQVIA.com