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Global businesses splurge on R&D in the UK with big pharma leading investment

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The world’s biggest businesses pumped an extra £3.5bn into research and development in the UK this year, as global spending growth hit a decade-high.

Pharmaceuticals giants GSK and Astrazeneca were the biggest investors, with R&D spending of £6bn and £5.4bn, according to the report from PwC, followed by Fiat Chrysler’s £3.9bn and Rolls-Royce’s £1.1bn.

This represents an increase of 10.7pc on last year, when R&D investment fell by 8.9pc, and puts the UK close to the global R&D growth rate this year of 11.4pc – the fastest pace of growth since 2008 – and comes despite worries that Brexit could undermine investment in the country.

On average, global spending on R&D has climbed 5.3pc a year since…



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