From the Prime Minister...	From Sir David Cooksey...

This report is the result of a seven month project launched by Lord Sainsbury, Parliamentary Under Secretary of State for Science and Innovation, and Lord Hunt, then a Minister at the Department of Health, in partnership with the BioIndustry Association (BIA).

The mandate of the BIGT has been to take a strategic approach to the future of the bioscience industry.

The BIGT's vision is that by 2015 the UK will have secured its position as a global leader in bioscience. This means the UK will boast: a diverse, self-sustaining bioscience sector, with a core of large, profitable companies; the most efficient and effective setting for conducting clinical trials in the world; a healthcare system, regulatory regime and business environment that support bioscience innovation.

There are two significant benefits for the UK in achieving this vision:

1. Improved national health, through improved clinical performance and early access to innovative medicine.
2. Increased national wealth: enhanced Gross Domestic Product by maintaining and supporting a high growth, high margin, high value-added, knowledge-based industry.

The UK is currently the global number two in the bioscience industry, after the US. The UK biotech sub-sector includes over 400 companies, employing over 25,000 people and generates revenues of £3 billion. The UK industry has an impressive number of drugs in its pipeline - 194 in development with 23 in phase III clinical trials.

The UK bioscience sector has clear sources of competitive advantage over most other nations:

1. An existing bioscience sector, with maturing companies.
2. Strong bioscience research base.
3. Improving university-industry links and technology transfer.
4. Major presence of several large pharmaceutical companies.
5. Growing scientific and managerial base.
6. Established, sophisticated private and public capital markets for bioscience investment.
7. A single provider healthcare system in the NHS.

However, the US has a stronger bioscience sector in every respect and other countries are making strenuous efforts to boost the sector, acknowledging its future importance. It is important that UK industry and Government act now to secure a successful future for UK bioscience. While most of the responsibility for achieving the vision lies with industry, Government can accelerate the sector's development through constructive intervention.