The German group is to invest around £150 million over the next ten years in the first deal since the government signed a tariff-free pharmaceutical deal with the US.
German pharmaceutical group Boehringer Ingelheim plans to invest around £150 million over the next ten years in King’s Cross, London, to expand its AI capabilities in pharmaceutical research and development. This is the first major pharma inward investment of this kind since publication of the final text of the US-UK Pharmaceutical Pricing Arrangement.
The firm’s computational innovation arm now has locations in Austria, Germany, the UK and the US, specialising in AI, machine learning, human genetics and computational biology. The firm says that the addition of London to the company’s global footprint and clear focus on AI will further understanding of the biology that drives patient outcomes, identify biological mechanisms with a higher probability of success, and enable the organisation to move faster, make smarter decisions, and deliver innovative therapies to patients with unmet medical needs.
“The UK has a strong legacy in AI, and the government’s continued commitment to advancing data-driven innovation in life sciences and healthcare makes it an ideal location,” said Paola Casarosa, board member and global head of the innovation unit at Boehringer Ingelheim.
“Establishing a presence in London allows us to leverage the UK’s rich data resources and infrastructure, while connecting with world-class talent across academia, biotechnology and AI ecosystems to enable innovation for patient benefit,” she added.
It is a welcome sign for the British pharmaceutical industry, which last year saw a flurry of international pharmaceutical companies leave the country.
AstraZeneca announced in February that it had halted a planned £450 million investment in Speke after the government pulled back from the previous government’s offer of support, and US pharmaceutical giant Merck scrapped plans for a £1 billion research centre in London and made 125 scientists redundant in September.
