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The boss of the world’s most valuable pharmaceutical company has told the BBC that the UK’s planning system puts companies off investing in the country.<\/p>\n
Dave Ricks, chief executive of the obesity drug manufacturer Eli Lilly, said he had considered building a factory in the UK in the last decade, but chose another country instead.<\/p>\n
He warned current planning processes were an “impediment” to building factories at speed, unlike in the US and Ireland.<\/p>\n
“Mostly what they do is they pre-reserve land, they promise to cut through the red tape and layers of government,” Mr Ricks said.<\/p>\n
Eli Lilly, along with its Danish rival Novo Nordisk, has developed a considerable lead over the rest of the pharmaceutical industry when it comes to obesity medication.<\/p>\n
Its drugs, which include Zepbound and Mounjaro, are in such demand that the company cannot build factories quickly enough.<\/p>\n
The country has operations in the US, Ireland and other European Union countries including Italy, France and Germany.<\/p>\n
Mr Ricks said countries that “could present a path” in which the time taken to set up a pharmaceutical plant was reduced from five years to two was “very attractive”.<\/p>\n
“In the UK – although I love visiting, it’s a wonderful county – it\u2019s not the largest market so you have to overcome that with other attractiveness, whether that be workforce, asset delivery or economic incentives,” he said.<\/p>\n
“You have to be candid, say ‘are we as competitive as we can be?’ And to date it’s been a little bit less, but I think it’s not unachievable.”<\/p>\n<\/div>\n
Both the Conservatives and Labour have made manifesto pledges on planning laws.<\/p>\n
The Tories have said they would “simplify the planning system”, while Labour has vowed to reform it if it wins the upcoming general election.<\/p>\n
A spokesperson for Labour said: “After 14 years of indecision, life sciences in the UK have been badly let down by the Conservatives.<\/p>\n
“Labour has a plan for growth, including a new industrial strategy, and the UK’s life sciences sector is at the heart of it.” <\/p>\n
The Conservative Party has been contacted for comment.<\/p>\n
Changes to planning laws have been seen as a way of boosting economic growth. The strength of the UK economy has been a central battleground in the election campaign, with growth having been subdued in recent years.<\/p>\n
Mr Ricks said the UK was “still in the mix” as a potential destination for a manufacturing site. <\/p>\n
He urged the next government to consider how it could become “world class” in attracting investment.<\/p>\n
“It’s a competition,” he said. “You have to make it easier and faster for companies to make that choice.”<\/p>\n
A Liberal Democrat spokesperson said: \u201cYears of Conservative mismanagement have undermined business confidence and led to countless missed opportunities for investment.”<\/p>\n
They said: “We would develop an industrial strategy to foster a stable business environment with smart regulation to give firms the certainty they need, and overhaul the broken business rates system to boost our manufacturing industry.\u201d<\/p>\n<\/div>\n