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G7 leaders to announce global anti-pandemic action plan

G7 leaders to announce global anti-pandemic action plan

THE G7 leaders will pledge to use their combined resources to ensure a global pandemic like Covid-19 is never repeated.

On the second day of their summit in Cornwall, hosted by the UK prime minister Boris Johnson, they will issue a declaration with a series of initiatives intended to achieve this.


The G7 leaders will issue the Carbis Bay Declaration after a special session on Saturday (12).

Johnson officially opened the 2021 G7 summit on Friday (11) in Cornwall, and urged fellow leaders to "build back better" as the world recovers from the Covid pandemic.

"I actually think that we have a huge opportunity to that because, as G7, we are united in our vision for a cleaner, greener world, a solution to the problems of climate change,” Johnson said in his opening remarks Friday (11).

The Saturday (12) session will also be attended by UN secretary general António Guterres and the World Health Organization (WHO) director Dr Tedros Ghebreyesus.

The declaration will list steps to reduce the time needed to develop and licence vaccines to under 100 days.

It will also include measures to reinforce global surveillance networks and genomic sequencing capacity along with strengthening of WHO.

The declaration is expected to incorporate recommendations from a report by a group of international experts drawn from across industry, government and scientific institutions.

The G7 nations are expected to collectively agree to provide a billion doses of Covid-19 vaccine in an effort to end the pandemic in 2022.

To significantly affect the transmission of virus at least 11 billion doses will be needed, as per WHO estimates.

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UK calls for new pharmaceutical investment to strengthen life sciences

Highlights

  • UK life sciences sector contributed £17.6bn GVA in 2021 and supports 126,000 high-skilled jobs.
  • Inward life sciences FDI fell by 58 per cent from £1,897m in 2021 to £795m in 2023.
  • Experts warn NHS underinvestment and NICE pricing rules are deterring innovation and patient access.

Investment gap

Britain is seeking to attract new pharmaceutical investment as part of its plan to strengthen the life sciences sector, Chancellor Rachel Reeves said during meetings in Washington this week. “We do need to make sure that we are an attractive place for pharmaceuticals, and that includes on pricing, but in return for that, we want to see more investment flow to Britain,” Reeves told reporters.

Recent ABPI report, ‘Creating the conditions for investment and growth’, The UK’s pharmaceutical industry is integral to both the country’s health and growth missions, contributing £17.6 billion in direct gross value added (GVA) annually and supporting 126,000 high-skilled jobs across the nation. It also invests more in research and development (R&D) than any other sector. Yet inward life sciences foreign direct investment (FDI) fell by 58per cent, from £1,897 million in 2021 to £795 million in 2023, while pharmaceutical R&D investment in the UK lagged behind global growth trends, costing an estimated £1.3 billion in lost investment in 2023 alone.

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