U.K. unveils second life sciences deal, headlined by UCB investment

Just days ahead of a Parliamentary vote on a Brexit deal, the U.K. government announced Wednesday a second deal for life sciences that comprises mostly industry investment into the U.K. spearheaded by a £1 billion ($1.3 billion) investment by Belgian pharma UCB S.A. (Euronext:UCB) over the next five years. The £1.3 billion ($1.7 billion) deal builds on the life sciences industrial strategy announced by John Bell last year (see "Capital Call").

Under the new life sciences deal, UCB will invest up to £200 million ($256 million) to build a new global R&D hub in the U.K., although a site for...