Grady outlined the factors that drive life sciences success, the challenges facing the UK, and actionable strategies for sustainable growth. Read the key takeaways from his speech.

What makes a country competitive in Life Sciences?

Grady identified three essential factors that attract investment and drive growth:

• Capability to conduct advanced research: Top-performing countries like South Korea and Israel spend over 5% of GDP on R&D, compared to the UK’s current 2.7%. Funding should be targeted and accessible to foster agile partnerships. The country also need a strong domestic skills base and the ability to attract global talent.
• Conducive business environment: Competitive tax incentives, low operational costs, and quality of life for employees are vial factors, alongside interconnected clusters where businesses can partner with research institutions and deliver world-changing science.
• Public procurement that actively adopts innovation: to incentivise private investment in life sciences there needs to be confidence that the country’s public procurement processes are open to the adoption of innovation – for life sciences this means an NHS that utilizes the latest medical innovations.

UK’s Headwinds: Challenges

Grady outlined several barriers to the UK’s competitiveness in life sciences:

• Fragmented systems: Coordination across government departments and local authorities remains complex, hindering large-scale projects like the Oxford to Cambridge region.
• Short-termism: The UK’s political system prioritises immediate outcomes, making long-term innovation investment difficult.
• Global competition: Countries like China, Canada, and Spain are outpacing the UK with bold strategies, tax cuts and significant R&D investment.

Riding the tailwinds: Solutions to move forward

To address these challenges and leverage the UK’s strengths, Grady proposed the following:

• Focus on comparative advantages: Prioritise specific areas like advanced materials, quantum computing and engineering biology to compete globally.
• Invest in people: Education and skills development are critical to sustaining the UK’s reputation for producing world-class talent.
• Strengthen regional hubs: The Oxford to Cambridge region should be positioned as the centrepiece of the UK’s science and tech ecosystem, linking with other clusters in cities like Manchester and Glasgow to maximise impact.
• Bold decision-making: The UK government must embrace long-term strategies, risk-taking, and infrastructure reforms, such as simplifying planning processes to reduce inefficiencies.

While the challenges are significant, the UK has solutions within reach if the public, private, and academic sectors unite with government support. By taking strategic, courageous action, the UK can course-correct and cement its status as a global leader in life sciences. With committed partnerships and long-term vision, AstraZeneca and the broader ecosystem are ready to help the UK seize the opportunities ahead.