Medical research yields an annual return of almost 40 per cent in economic benefits and health gains, according to a study published yesterday by UK funding and scientific institutions. The study analysed research in mental health and cardiovascular medicine carried out between 1975 and 1992 - long enough ago for the effects to feed through. It showed the average time lag between research spending and health benefits was 17 years.
Every £1 spent by a public body or charity on cardiovascular research "produced a stream of benefits equivalent to earning 39p per year in perpetuity". The total return is made up of 30 per cent in direct returns to the UK economy (for example through the pharmaceutical industry) and 9 per cent in health gains through new treatments. The combined return for mental health research was 37 per cent.
The study was commissioned by the Wellcome Trust, Medical Research Council and Academy of Medical Sciences, and carried out by Brunel University, the Office of Health Economics and Rand Europe.
By Clive Cookson
Published: November 21 2008 02:00 | Last updated: November 21 2008 02:0
Copyright The Financial Times Limited 2008