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25/10/2004
R&D investment maintains UK competitive edge, says Minister
The UK has maintained its world leading position in Research and Development (R&D) investment in the pharmaceuticals, health, biotechnology and aerospace sectors, and is second only to the US, according to the Department of Trade and Industry (DTI).
The 14th annual R&D Scoreboard from the DTI shows that companies who invest in R&D benefit from higher sales growth and increased share price, as a result of their higher value added products and services.
The only detailed study of R&D intensity in the UK, the DTI 2004 Scoreboard looks at data for the top 700 international and top 700 UK R&D investing companies. The UK now has the fourth largest number of companies (41) in the international top 700, after the USA (294), Japan (154) and Germany (54).
GlaxoSmithKline has retained its position as the top UK R&D investor, whilst AstraZeneca has moved up to the second slot and BAE systems have leaped to third position from sixth.
The Scoreboard also found the number of UK-owned companies with R&D intensity above 4% and sales above £25 million had increased by 66% since 1999.
Science and Innovation Minister, Lord Sainsbury, said: "It is heartening to see strong signs of progress in UK sectors where R&D is below international levels including strong growth in R&D intensive small businesses like software.
"The creativity and inventiveness of our people and business is our greatest asset and is essential for high-skilled jobs, successful business and better products. If we can drive investment in R&D up to our goal of 2.5% of GDP, this will help secure the UK a leading place among the major European countries and help close the gap between the UK and the USA."
(gmcg/sp)
The 14th annual R&D Scoreboard from the DTI shows that companies who invest in R&D benefit from higher sales growth and increased share price, as a result of their higher value added products and services.
The only detailed study of R&D intensity in the UK, the DTI 2004 Scoreboard looks at data for the top 700 international and top 700 UK R&D investing companies. The UK now has the fourth largest number of companies (41) in the international top 700, after the USA (294), Japan (154) and Germany (54).
GlaxoSmithKline has retained its position as the top UK R&D investor, whilst AstraZeneca has moved up to the second slot and BAE systems have leaped to third position from sixth.
The Scoreboard also found the number of UK-owned companies with R&D intensity above 4% and sales above £25 million had increased by 66% since 1999.
Science and Innovation Minister, Lord Sainsbury, said: "It is heartening to see strong signs of progress in UK sectors where R&D is below international levels including strong growth in R&D intensive small businesses like software.
"The creativity and inventiveness of our people and business is our greatest asset and is essential for high-skilled jobs, successful business and better products. If we can drive investment in R&D up to our goal of 2.5% of GDP, this will help secure the UK a leading place among the major European countries and help close the gap between the UK and the USA."
(gmcg/sp)
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