Global Opportunity Healthcare 2015 Main

The Strategy for UK Life Sciences and personalised health has the power to transform healthcare and the NHS, says Mariyam Rawat, Senior Director at FTI Consulting

An integrated approach to healthcare and life sciences

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y facilitating collaboration between the NHS, the life sciences industry and academic research organisations, the Strategy for UK Life Sciences has paved the way for a new

partnership model. The NHS has an opportunity to take a leading role in a global push to create models for developing and evaluating drugs. For the healthcare practitioner, understanding the impact this has on the lives of their patients from a quality of life perspective is immense, as is the impact on costs. Enhanced value for money to the NHS will improve the drive to support wealth creation, while patients will benefit from fast access to cost-effective and innovative medicines, devices and diagnostics.

An evolving landscape Today, the healthcare and life sciences sectors face an unprecedented and profound number of complex structural, commercial and regulatory challenges. These include the challenge to establish new therapeutic classes such as biosimilars, manage the pressures associated with R&D productivity, and deliver meaningful transformation in healthcare systems. The changing landscape is occurring against

a backdrop of austerity and tightened healthcare budgets within the EU and US markets, while the developing and emerging markets face the increased demands of a younger population. The needs of other economies can no longer be ignored

164 Global Opportunity Healthcare 2015 | Issue 01 global-opportunity.co.uk

and must to be taken in to consideration. These markets have large populations and fast-

moving Healthcare economies. They want their own innovative pharmaceutical economies, demanding access to existing innovations at a lower cost to support the healthcare needs of their growing populations. In the UK, the NHS spends about £13bn a year on medicines, equal to about a tenth of total health spending. In a world of tight budgets this figure is perceived as unsustainable, and critics often accuse pharmaceutical companies of charging too much for products that often only provide incremental health improvements, while the industry complains about the difficulty of selling new products to a cash- strapped health service, and regulatory red tape, resulting in a lengthy 10-15 years for developing a new drug at an average cost of £1bn. Recognising that the UK life sciences and

pharmaceutical industries are facing such profound issues, exacerbated by socioeconomic factors such as an ageing population, crisis of productivity of the NHS combined with a structural deficit of the NHS, the government launched its Strategy

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FTI Consulting

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