Company News
UK Pharmaceuticals Sector 'At Risk' Without Early Brexit Deal
Wednesday 14th June 2017
Unless an early Brexit deal is struck for the pharmaceuticals sector in the UK, new regulatory guidance just brought out by the European Medicines Agency (EMA) could put jobs and public health at risk.
This is according to the Association of the British Pharmaceutical Industry (ABPI), which has warned that the outcome could be huge restructuring costs and reduced access to markets in Europe, the Daily Telegraph reports.
The EMA's guidance on how companies should ready themselves for Brexit suggests moving roles and functions to an EU member state before the UK leaves the EU so that firms can maintain their rights to sell medication in the common market.
Speaking to the news source about the matter, executive director of research, medical and innovation at the ABPI Dr Virginia Acha said: "Rather than a fast decision, let's get the right decision... The proposals represent a very significant change and preclude the possibility of a better decision."
The EMA also warned that the UK could also face a steep increase in regulation and stronger checks on medicine exports as of March 30th 2019 when they arrive in the European common market.
The ABPI has also issued a statement regarding the announcement that Theresa May will be forming a minority government following the results of the general election.
Chief executive Mike Thompson noted that it's vital the minority government doesn't result in a "prolonged period of uncertainty" over the direction that the country takes in the future.
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