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While long-awaited, the launch of the Life Sciences Sector Plan – the sixth of the Industrial Strategy’s eight-part anthology – passed without fanfare last week. This was in no small part due to ongoing tensions between the sector and the Government over drug pricing negotiations
The plan includes 33 actions in total, but of these, very few were new: all of the priority actions have been previously committed to in documents such as the Industrial Strategy and 10 Year Plan for Health.
The six ‘headline’ priority actions, all previously announced, were:
However, what the plan lacks in newsworthiness is arguably a strength. Continuity with previous announcements reflects both integration with the multiple existing strategies relevant to the sector and an acknowledgement that past strategies have not delivered.
In contrast to other recent government strategies, this plan includes a fairly well-drawn-out model for delivery. This includes a named, senior responsible officer (SRO) for each action; clear metrics for how progress will be judged; a Life Sciences Delivery board to oversee; and commitment to an annual Sector Plan Implementation Update.
Time will tell how seriously this model is taken, and the level of Ministerial buy-in. Nevertheless, the degree of transparency and detail outlined on delivery is promising.
The biggest challenges to rubber hitting the road? Resourcing could prove an issue, with the already stretched NHS and regulators tasked with speeding up and streamlining processes in multiple areas. Explicit framing of the plan as part of the government’s wider economic and policy objectives also exposes how contingent success is on other very difficult issues the government is grappling with, e.g., UK capital markets and the ability of domestic businesses to scale.
Related reading: how UK policy reforms aim to unlock investment and scale high-growth sectors . After Mansion House - what happens now?
Ultimately, though, the most significant barrier to success for the Government is the very thing that caused the plan to be so delayed: continued weakness in the commercial environment. The ongoing review of VPAG remains unresolved at the time of writing. With Government also facing pressures on health spending from long waiting lists and striking resident doctors, a significant shift is a big ask, but US pressure will help.
This jeopardy creates opportunity and risk for the sector. DSIT and DHSC are under pressure from the Treasury and No. 10 to deliver growth; meanwhile, the sector holds the tools to realise this. Strategic engagement around priorities can deliver meaningful benefits for both sides if well-executed.
For broader context on where the biggest growth opportunities lie in UK health and life sciences, see: Five key areas of opportunity for health businesses under a Labour government
With extensive experience in shaping policy and commercial decisions across health and life sciences, Flint can support you as you engage with the plan.
This blog was written by Directors Verity Ryan and James Hedgeland. Verity and James co-lead Flint's health team. For more information on the topics discussed in this blog or to address any general queries, please contact us.
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