Eli Lilly boss: UK town planning laws are 'obstacle' to investment

The boss of the world's most valuable pharmaceutical company has told the BBC that the UK's planning system is keeping companies from investing in the country.

Dave Ricks, chief executive of obesity drug maker Eli Lilly, said the company had considered building a factory in Britain for the past decade but chose another country instead.

He warned that the current planning process “hinders” the country from building plants as quickly as the US and Ireland could.

“Most of what they do is pre-reserve land, promising to cut out bureaucracy and layers of government,” Ricks said.

Eli Lilly and its Danish rival Novo Nordisk are well ahead of other pharmaceutical companies in the obesity treatment market.

Demand for drugs including Zepbound and Mounjaro is so high that the company can't build factories fast enough.

The country operates in other European Union countries, including the United States, Ireland, Italy, France and Germany.

Mr Ricks said a country that could “provide a pathway” to shorten the time it takes to set up a pharmaceutical plant from five years to two would be “very attractive”.

“We love to visit in the UK, but it’s a great county, it’s not the biggest market so we have to overcome that with other attractions, whether it’s people, asset delivery or economic incentives,” he said.

“We have to be honest and say, ‘Are we as competitive as we can be?’ And so far, we’ve been a little bit less, but I don’t think it’s unachievable.”

Sources 1/ https://Google.com/ 2/ https://www.bbc.co.uk/news/articles/c4ngq10grgzo The mention sources can contact us to remove/changing this article

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