Major medicine manufacturer is to invest £45m in its North Devon site

A North Devon pharmaceutical manufacturer is to invest £45million in its Barnstaple site, made possible thanks to support from a Government initiative.

The investment by Accord at Whiddon Valley will boost local production of novel treatments, including medicines for people living with bipolar disorder, alongside the company’s longstanding product line in generic medicines.

Its latest investment could only happen thanks to the Government’s Life Sciences Innovative Manufacturing Fund (LSIMF) and was announced today (Tuesday, April) by Liz Kendall, the Science and Technology Secretary.

Accord is also one of the largest suppliers of cancer and chemotherapy medicines in Europe.

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The Government says the fund will support more than 500 jobs and takes the amount invested so far this year in UK life sciences to £600million.

Manufacturers can apply to the fund and may typically receive 10 to 20 per cent of the total project cost, for projects worth mire than £8m. By covering some of the cost the Government aims to make the UK a more attractive prospect for investment for manufacturers.

Paul Tredwell, chief operating officer at Accord said: “The LSIMF grant has helped to unlock new investment in our Barnstaple site which remains a strategic asset to the UK, providing 9% of all NHS medicines.  

“The investment will enable the manufacture of two new innovative medicines, helping to secure the sustainability of the site and its broader contribution to UK health resilience.”   

Liz Kendall said: “By manufacturing more medicines in this country we can make sure more people get the vital treatments they need. These investments will make a real difference to people across the country and show our Life Sciences Sector Plan is bearing fruit.”  

Science Minister Lord Vallance said it was ‘a significant vote of confidence in Barnstaple and North Devon’s vital role in the UK’s life sciences landscape’.

He added: “By expanding and strengthening production at this site, Accord is not only boosting jobs and skills, but also helping to secure the UK’s supply of medicines that make up nine per cent of all NHS prescriptions.

“The Barnstaple facility has a strong history in producing high-quality generic medicines, and this investment will build on that legacy by enabling the development and manufacture of new and innovative treatments, including medicines for people living with bipolar disorder.

“As one of Accord’s key European hubs for manufacturing, testing and distribution, the site plays an essential role both locally and nationally.

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North Devon MP Ian Roome also welcomed the news and said: “This is a very welcome announcement and a clear sign of confidence in the important work being done at Accord’s Barnstaple site. It is a major boost not just for Barnstaple, but for North Devon as a whole.

“The site is one of Barnstaple’s key employers and plays an important role in the UK’s medicines manufacturing and supply chain.

“I will be meeting with Accord at their Barnstaple site in the coming weeks to go through their plans in more detail, and to hear more about what this investment will mean for the workforce and the future of the site.”

Above: Ian Roome during a visit to Accord shortly after he was elected. Credit: Ian Roome's office