Merck UK Closure: Job Cuts & Research Center Shutdown

Here’s a summary of the key details⁣ from the provided text:

UK⁤ Investment Appeal: A government spokesperson claims the UK is ‍currently the most ⁢attractive place to invest globally, citing a Deloitte survey and the US⁣ trade deal. However, they acknowledge more work is needed.
Declining Pharmaceutical Investment: Despite the positive​ spin, a report by⁢ the‌ ABPI and PwC shows the ⁣UK is losing ‌ground in attracting pharmaceutical investment and research.
R&D Slowdown: ⁢R&D investment growth in UK life sciences⁤ slowed⁤ considerably from 6.3% annually (2015-2017) to​ 1.9% in 2020, and even decreased in 2023 by nearly ⁢£100m.
Foreign Investment Drop: Foreign investment in UK life sciences fell by 58% between 2017 ⁣(£1.9bn) and 2023 (£795m).
Global Ranking decline: The ⁣UK’s global ranking for attracting life sciences investment dropped from ‍2nd in 2017 & 2021 to‌ 7th⁢ in 2023.
Government response: The government ⁣is implementing a life sciences sector plan to “unlock innovation, drive investment and ⁢boost growth” in response to these trends.

In essence, the article ‍presents a contrast between the government’s optimistic messaging and ‍the data indicating a⁤ decline in the UK’s attractiveness for life sciences ⁤investment.