L

Lord Vallance of Balham (Lab)

Speaking in the House of Lords on 11 September 2025

Debate

Merck Research Site

Contribution

We should not be under any illusion: the US is the major powerhouse in pharmaceutical research and development and will remain that powerhouse. Despite some of the changes, there is enormous investment going into, in particular, private sector R&D in the US. However, the noble Baroness is right that there are changes in public sector funding. As I hope she will be aware, we launched a £112 million global talent scheme, with £54 million coming from the Government and the rest from the Royal Society and the Royal Academy of Engineering, looking for global talent to get to the UK. We believe this is a time when we can attract global talent into our leading universities and biotech scene.

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