Business Monitor International (BMI) have issued their latest report on the outlook for the UK Pharma and Healthcare sector. My reading of it would be that although th UK has some core strengths some significant uncertainties remain. They note the continuing difficulties over clinical trial regulation as a hurdle to future growth and say the issue of whether the NHS reforms will really simplify the system or make it more bureaucratic is not helping. I wonder what they would be rating the UK if they were one of those city credit rating agencies like Standard & Poor’s?