The economic and political upheaval since the referendum result to leave the EU have been felt deeply in the life science sector. The immediate impact on big Pharma share prices was not negative - a little safe stock haven - but the long term outlook for the industry in the UK is bleak. Human health is borderless and so is the industry from research to manufacturing to commercialisation; the real potential loser from the UK leaving the EU is the UK research base and associated investments and jobs. This against a backdrop of ongoing uncertainty about how the NHS will meet the bill for expensive innovative new treatments and personalised medicine.
The dust has settled politically. Theresa May is now Prime Minister and has a new cabinet. To the surprise of many her Government no longer includes a "life sciences" Minister, a post previously shared between Department for Business, Innovation and Skills and Department of Health. The post's only incumbent was George Freeman, "the UK's first Life Science Minister" - as he liked to say - turned out to be the last (for the time being). His background working in the industry made him insightful and popular. George campaigned hard for the UK to remain in the EU and in the immediate aftermath of the referendum result was quick to set up an industry taskforce on the opportunities from new trade deals and a framework for a favourable regulatory environment. Of course his promotion to lead a policy unit on progressive conservatism has been met with congratulations, a role he will greatly enjoy and has much to contribute to, but where does that leave the industry when it comes to the big questions it needs resolving with Government?
Lord Prior, Parliamentary Under Secretary at Department of Health, now picks up the "life science" brief and Jo Johnson's brief for "science" will not doubt be focused on mitigating a crisis in academia from the loss of EU research funding. Nicola Blackwood, also a junior minister at the Department of Health leads on innovation, her task the hardest no doubt, to drive through the digital and data upgrading of public health and the NHS. Greg Hands, at the Department for Trade and Investment will also play a critical role as his brief includes life science trade and investment, particularly for the big international health and life science companies here in the UK. Greg Clark also becomes an important ally as his newly expanded Department for Business, Energy and Industrial Strategy tackles the question of where science fits in a UK industrial strategy.
The challenges ahead for them is to convince the sector at this time of uncertainty that they are still deemed a priority for the country, that whatever Brexit looks it will not irreparably damage the UK science base, and fundamentally, that Government is committed to breaching the impass between the funding and purchasing of medical innovation.
The challenge for business will be getting traction from Ministers with a range of priorities rather than focus and passion for life science George Freeman had. Understanding what those priorities are will be critical for cut through. Businesses, universities and charities will no doubt also have to spend more time explaining the context and background to their challenges as the new Ministers do not match George Freeman in scientific background. They do all share a vision for innovation, and without George Osborne in the Treasury anymore, they will be valuable champions.