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Pharmaron will invest $151 million to create 174 Liverpool jobs

Pharmaron

Chinese pharmaceutical giant Pharmaron is to receive £151 million to expand its operations in Liverpool and create 174 jobs.

Pharmaron has been designated one of the first recipients of the Life Sciences Innovative Manufacturing Fund (LSIMF) grants, which are backed by both government and private investment.

The cash means the company will now quadruple its production capacity for essential gene therapy and vaccine components while also securing an additional 156 roles.

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The grants totaled £277 million, with the government contributing £17 million and the private sector contributing £260 million.

The grants have been handed to a number of companies and will lead to the creation in the creation of 320 jobs and the preservation of 199 positions.

In other news, Ipsen has been awarded £75 million to expand its manufacturing of novel medicines for neurological diseases, generating 39 new jobs and retaining 37 at its Wrexham factory.

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Scientist Touchlight has also been given £14 million to create 17 jobs and protect another six at its London headquarters.

Randox, which provides health tests, has also been allocated £36 million to improve the production of antibodies used in diagnostic testing. A new plant in Crumlin, Northern Ireland, will employ 90 people.

Minister of State for Science, Research & Innovation, George Freeman, said: "The UK’s £94bn Life Science sector provides over 250,000 high-skill jobs across the UK from drug discovery to diagnostics, medtech devices and digital health.

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"The industry is being transformed by the pace of change: from AI to genomics, bio manufacturing to smart stents and personalised immunotherapies, technologies are converging to create a new era of advanced digital products.

"That requires new types of advances manufacturing plant which is why we set up the Life Sciences Innovative Manufacturing Fund, which today’s news shows is working: converting £17m grants to four companies into £260m industrial investment."

Chancellor of the Exchequer Jeremy Hunt added: "The UK is home to Europe’s largest life science sector - it’s a real British success story which includes the first Covid vaccine that saved millions of lives.

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"We want to cement Britain’s competitive advantage by backing more innovative projects to develop, manufacture and export those treatments of the future."

Minister of State for Health Will Quince said: "We’re harnessing the same spirit of innovation that delivered the Covid vaccine, and working hand in hand with industry and healthcare experts to get cutting-edge medicines to patients faster.

"This is an important step towards strengthening the UK’s long-term manufacturing capability while supporting the development of innovative technologies and ground breaking medicines.

"The life sciences sector is crucial to the UK’s health resilience. Through government and industry investment, we will continue to drive it forward - creating jobs and cementing our position as a global life sciences superpower."

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