Pharmaceutical specialists 'could help the UK stay out of recession'

Pharmaceutical specialists
working in the bio-tech industry could help the UK stay out of recession, according to a leading economist.

The publication of GDP figures this week showed that the UK had made a fragile recovery from the recession.

Michael Baxter, economist and editor of Investment and Business News, believes that in order for economic recovery to continue the UK must begin looking to new industries such as the bio-tech industry, which he claims is currently "underrated" by most people

"If you look around at what is happening in the bio-tech sector beneath the surface at the moment, there is a lot going on, especially in the field of genetic science," he said.

With the industry estimated to be worth over £3 billion to the UK economy, he believes that this area provides "an opportunity for the UK."

The UK bioscience industry is the largest in Europe, second globally only to the US, according to information from the BioIndustry Association.

In Europe, the UK has almost twice as many biopharmaceutical products in development as its nearest competitor, Germany.

Posted by Jessica Jenkins