CEOs Have a Poor View of Britain, Says Pharma Lobby Boss [BNN Bloomberg (Canada)]
AbbVie Inc. (ABBV)
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Source: BNN Bloomberg
“I'm very concerned about the sentiment toward the UK among global leadership right now,” Richard Torbett, chief executive officer of the Association of the British Pharmaceutical Industry, said in an interview Tuesday. “I have CEOs talking to me all the time about how far away from the rest of the world the UK has drifted.” Torbett was speaking less than a fortnight after Chancellor of the Exchequer Jeremy Hunt pledged £1.8 billion ($2.2 billion) to help “20,000 cutting edge companies that day by day are turning Britain into a science superpower,” as part of a new research and development tax credit. However, the ABPI boss said the government must overhaul its drug pricing structure or risk losing out on millions of pounds of investment. “I don't think the government stands a chance of meeting its targets on R&D unless the pharmaceutical industry turns its view of the UK round into being a good investment proposition,” Torbett said. “At the moment it's just not.“ The industr
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