Overseas investment in UK life sciences fell sharply last year, amid a dispute between multinational companies and ministers over a soaring NHS sales levy.
According to government figures, the estimated value of foreign direct investment dropped by 47% from £1.9bn to £1bn, resulting in the UK falling from second to ninth out of 18 comparator countries.
The Republic of Ireland’s investment more than doubled and Switzerland had a “substantial” increase, while the US suffered a significant drop but remained at the top of the rankings at £4.3bn, according to the government’s annual life sciences competitiveness indicators.
