"The loss of AstraZeneca, were it to happen, would be a devastating blow to the London Stock Exchange. Is it not therefore very important, if we are to retain the listings, that the Government have a supportive policy for life sciences in particular?"
"The Government also increased the rebate payable by pharma companies from drug sales from 15% to 22% - a stealth increase if ever there was one. Is it not important that, if we want to retain the listings, which will mean retaining the research, development and employment, we have a proper strategy with these companies and do not just regard them as cash cows but valuable investments to be encouraged?"
Norman Lamont has warned that AstraZeneca's potential exit from the London Stock Exchange would significantly harm its status as a global financial center. He urges the government to view pharmaceutical companies as valuable investments rather than sources of revenue. AstraZeneca, with a market value exceeding £160 billion, has recently withdrawn substantial investments due to lack of government support. Increased taxes on pharmaceutical companies heighten concerns about maintaining current listings and the long-term strategy towards life sciences in the UK.
Read at London Business News | Londonlovesbusiness.com
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