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Life sciences weekly: UK Budget boosts R&D; EU MDR/IVDR revisions; AI in medicines; Wales prescribing rules; Data (Use and Access) Bill; HTA conflicts management—31 October 2024

Published on: 31 October 2024

Published by a LexisNexis Life Sciences expert
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Research and development

Autumn Budget 2024—key Life Sciences announcements

On 30 October 2024, within the Autumn Budget 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, set out a £520m long‑term pledge for the Life Sciences Innovative Manufacturing Fund and an increase to the National Institute for Health and Care Research budget. These sit within more than £2bn of R&D backing to bolster life sciences and medtech research and to enhance the UK clinical trials ecosystem, alongside over £2bn earmarked for NHS technology and digital transformation. In total, £20.4bn of R&D investment was outlined for 2025–26. The government also confirmed renewal of the Tobacco Duty escalator and the introduction of a Vaping Product Duty from 1 October 2026. Miranda Cass, partner, and Farhad Shahidi, senior associate, at Bristows offer their commentary on the measures. See: LNB News 30/10/2024 31.

HRA releases toolkit to support research initiatives between UK nations

The Health Research Authority (HRA), in...

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