The Future is Bright for Post-Brexit UK Life Sciences, Notes Poll

February 13, 2020

According to executive search firm Odgers Berndtson, its recent poll has highlighted that senior executives in life sciences believe there is a positive future for the United Kingdom’s sector outside the European Union.

According to executive search firm Odgers Berndtson, its recent poll has highlighted that senior executives in life sciences believe there is a positive future for the United Kingdom’s sector outside the European Union.

In a Feb. 12, 2020 press release, Odgers Bernstein revealed the results of a poll, which was taken ahead of an event and included nearly 400 senior executives and managers working across the pharmaceuticals and life sciences sectors, with more than half (53%) stating a positive outlook for the future of UK life sciences. Of the respondents, more than three-quarters (76%) were evenly split on what they believed to be the most pivotal course of action for future growth after Brexit-the need to invest in world class research capabilities and the use of new regulatory freedoms to implement faster clinical testing and trials.

Executives that participated in the poll also flagged the increasing difficulty for companies seeking to attract world-class leaders to the UK in light of Brexit. Nearly half of respondents (48%) specified that chief executives would become the most difficult talent to attract, with senior leaders (43%) and regulatory roles (40%) listed as the second and third most difficult positions to attract.

“These findings suggest that the UK could continue to be an attractive global center post-Brexit,” said Chris Hamilton, head of the life sciences practice at Odgers Berndtson, in the press release. “However, companies will only invest and locate senior people here if the government is able to persuade them that the potential opportunities outside the UK are likely to be realized with the necessary steps and support.”

Other key findings from the poll include doubt from the majority of respondents (87%) that the National Health Services will be given the budget to afford new treatments and therapies. Additionally, 44% of respondents highlighted the inability to afford new technologies and advances as the greatest challenges for the National Institute for Health and Care Excellence and other agencies post-Brexit. 

Source: Odgers Berndtson