Turkey option: Leaving the EU Single Market and EU union but creating a replacement union with the EU. This may ensure tariff-free trade for goods covered by new union but mean applying the EU’s common external tariff for trade to those goods imported from other countries. Following the Turkey model would eliminate most checks and controls for industrial goods but would still mean businesses had to comply to varied border documentation, which doesn't lead a seamless and frictionless border. Accepting the EU’s common external tariff would also constrain the United Kingdom’s ability to strike new trade deals and need the UK to suit substantial numbers of EU products regulations.
Major impact areas for Pharma in the case of a Turkey-like scenario include, Lifecycle management, Artwork/Labelling & Packaging, QPPV, GMP compliance and movement of personnel/resources to EU states for Market access, Clinical trials compliance etc. No Tariff or Non- Tariff Barriers are seen here.
To read more about each area affected, what you need to do is to stay ahead of the curve. How Freyr can help ease your transition into these new guidelines?