Danny Beales

Danny Beales

Labour — Uxbridge and South Ruislip

Speaking in the House of Commons on 11 September 2025

Debate

Life Sciences Investment

Contribution

For transparency, I should declare that I was the director of the Knowledge Quarter partnership in King’s Cross and cabinet member responsible for negotiating the MSD headquarters deal. It is disappointing news today. Turning to my current constituency, I hear from a number of life sciences and pharmaceutical companies that they have concerns about the previous Government’s levy under VPAG—the voluntary scheme for branded medicines pricing, access and growth—and how it is working in practice, in particular that it is focused on revenue, not profit, and does not take into account the differential level of R&D needed. Celltrion, a South Korean company in my constituency, highlights that biosimilar medications require a lot more investment than other forms of pharmaceuticals. Will the Minister or his counterpart meet me and Celltrion to discuss the biosimilar sector and how we can support it to grow?

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