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Investing.com -- The United Kingdom has signed a new pharmaceutical agreement with the United States aimed at encouraging life sciences companies to invest and innovate in the UK, according to British science and technology minister Liz Kendall on Monday.
"This vital deal will ensure UK patients get the cutting-edge medicines they need sooner, and our world-leading UK firms keep developing the treatments that can change lives," Kendall said in a statement.
Kendall added that the agreement will "enable and incentivise life sciences companies to continue to invest and innovate right here in the UK."
As part of the deal, the British government plans to increase spending on innovative, safe and effective treatments by approximately 25%.
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