The life sciences sector, the current darling of the property industry, has warned it will have to scale back on future space.
More than a dozen multinational drugs companies operating in Britain have put their names to an industry warning that a “rocketing” NHS drugs levy is forcing boardrooms to cut investment.
The Association of the British Pharmaceutical Industry said the levy meant manufacturers of branded medicines would be required to return an estimated £3.3bn in sales revenue to the government, a rate of 26.5%, up from £563m last year and about £1.8bn this year.
The UK heads of 13 drugs companies, including Sanofi, Bayer, Merck and Gilead, joined the industry in warning that it was being forced to reduce its footprint and research and manufacturing investments in Britain.
