A skills shortage in the UK pharmaceuticals sector poses a threat to the UK’s status as a global pharma leader, according to data published by London-based recruitment software company Broadbean Technology.
Research shows that applications have declined by 25% year on year (and over 40% between May 2022 and June 2022 alone), despite being added to the Home Office’s shortage occupation list nearly 18 months ago.
The shortage occupations list eases immigration rules for sectors facing labour shortages. while providing incentives to apply for visas under the Skilled Worker programme.
Although there is an undeniable shortage in blue-collar retail and logistics jobs, Alex Fourlis, managing director at Broadbean, noted that “it’s actually the highly skilled sectors such as pharmaceuticals that are more of a concern for the UK’s economic bounce back, with candidates for these positions taking longer to train up and being harder to find.”
Roles in the research and discovery fields are in particular demand as a result of strong growth in the small and medium-sized enterprises (SME) market, Matt Shaw-Clark, director of Hays Life Sciences, told PharmaTimes.
Movers and shakers
One such SME, Arecor Therapeutics, recently unveiled its £6mln acquisition plans for commercial-stage speciality pharmaceutical company Tetris Pharma.
Longevity drug developer Genflow Biosciences was listed on the London Stock Exchange in January, and is positioning itself at the forefront of the growing field of healthy ageing.
In the large-cap segment, GSK spin-out Haleon’s recent dual listing in London and New York valued the company at around £30bln.