Life Science businesses injecting £10bn into Northern Powerhouse
Life science businesses in the Northern Powerhouse are contributing over £10.8bn to the UK economy each year, as well as helping support over 38,000 highly skilled jobs.
The data, released by George Freeman, Minister for Life Sciences, also showed there are 1,000 life and health science companies in the Northern Powerhouse.
A massive 97% of these companies are SMEs, providing a strong supply chain for new investors to the region. It was also revealed that these companies manufacture and export over £8.1bn of medicinal and pharmaceutical products per year.
Announcing the figures at the BioTrinity Conference in London, Freeman said: 'This data shows that the UK's £56bn life sciences industry is a powerhouse in the Northern economy.'
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