Relocating European Medicines Agency (EMA)
One of the key pharmaceutical industry market access challenges that Brexit brings along, regardless of the trail it takes, is said to be the longer-term location of the ecu Medicines Agency. Since its inception in 1995, EMA had been located in London. However, Netherlands has now won the bid to host new EMA headquarters post-Brexit. With the EMA headquarters soon moving to Amsterdam, several changes could also be implemented to rules for medicinal products that are developed and tested within the UK. However, the extent of Brexit-induced changes to the pharmaceutical industry has yet to be decided.
Movement of Individuals and Pharma Products
As of 2015, the EU pharma market employed over 700,000 people, 73,000 of whom were based in Britain.
Pharma products form a substantial part of goods that are exported to and from the United Kingdom. Any post-Brexit hurdles to the free movement of products could mean trouble for those supplies, potentially resulting in temporary drug shortages. This is often very true within the case of medicines like insulin that are not manufactured within the UK neither is it easily stored, because it requires temperature-controlled conditions. However, it is not only the movement of medicines that is in danger. Because the possibility of stricter rules regarding the flow of individuals between the United Kingdom and therefore the EU looms, companies within the pharmaceutical industry are concerned about their ability to draw in talent from outside Britain in the future. It is vital that pharmaceutical companies to still be ready to access the best talent from round the world.