FPM statement on the UK Budget 2026

The Faculty of Pharmaceutical Medicine (FPM) welcomes the Government’s announcement in today’s Budget of an additional £70 million in funding and support for the UK’s life sciences sector, alongside a further £1 billion of investment from the private sector.

These announcements represent a welcome commitment to strengthening the UK’s position as a global leader in life sciences, medicines research and development, and pharmaceutical innovation. At a time when international competition for investment in life sciences continues to intensify, sustained investment is essential to ensuring that the UK remains an attractive destination for the development of new medicines and innovative treatments.

FPM particularly welcomes the Government’s commitment in the Budget to introducing a regulatory carve-out that will enable innovative products, including medicines, to be safely tested and rapidly scaled. This is an important step towards creating a more agile and innovation-friendly regulatory environment.

FPM believes that the combination of additional public and private investment, together with a regulatory framework that supports responsible innovation, has the potential to deliver significant benefits for patients, healthcare professionals, researchers and the wider UK economy.

FPM looks forward to seeing further details of how these measures will be implemented and to working with the Government, regulators and the wider life sciences sector to ensure that these commitments translate into meaningful progress for medicines development and improved outcomes for patients.

FPM welcomes today’s announcements as a positive step towards reinforcing the UK’s position as a world leader in life sciences and creating an environment in which innovative medicines can be developed, tested and brought to patients safely and efficiently.