Downsizing in recent years in the UK by a number of large pharmaceutical companies is leading to overseas interest and investment from the Far East, reports the Financial Times.
Japanese company Shionogi has targeted the UK as an area it wishes to expand into as chief executive Isao Teshirogi believes the strict rules for safety and pricing of medication will provide essential knowledge to ready his company for further expansion. Whilst initially Shionogi will employ only 15 staff, it is expected this number will rise substantially.
The rise is predicted due to the staff that some companies have had to shed leading to an excess of good, skilled pharmaceutical staff. Mr Teshirogi also points to the UK’s strength in medical research as a factor in targeting the UK to initially expand into. This medical research competitiveness and high number of excess staff has also led to interest from India and China, as well as Japan.
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