The UK's Life Sciences and Medical Technology sector exhibited generally healthy payment practices in 2020, but a stark divide between the best and worst payers suggests problems beneath the surface.
The sector's average score of 59.0/100 significantly outpaces the UK average of 50.0/100, indicating generally responsible payment behaviour. However, the massive gap between the top and bottom performers—a difference of 72.7 points—highlights a concerning inconsistency in how suppliers are treated within the industry. That's a potential problem for small companies who rely on prompt payment. If you are a small supplier, you can try our late payment calculator to help understand your potential recourse.
The "Unknown" region boasts the highest average score at 88.1, but this is based on just one company, so it's not statistically meaningful. Wales comes in second at 71.1 but with just three companies. The East Midlands at 74.9 (1 company) also proves to be an outlier. These regions are far too statistically small to draw any real conclusions. The East of England, with a score of 64.5 based on 17 companies, is the most representative of a region.
The industry, while generally ahead of the UK average, is brought down by a handful of major players like Abbott Laboratories (24.6/100) who are significantly lagging on payments, demonstrating that size and influence aren't always indicators of good payment practice.
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