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Brexit Could Topple Industry, Warn UK Pharmaceuticals Companies

Brexit Could Topple Industry, Warn UK Pharmaceuticals Companies

UK pharmaceuticals businesses are the latest to express their concern over a yes vote to leaving the European Union. Some of the top executives and trade associations supporting the industry have insisted that Brexit would be to disrupt cross-pollination between countries and threaten existing measures of regulation.

The European Federation of Pharmaceutical Industries and Associations (EFPIA) this week asserted that to stay in the UK was in the best interests of research and development for international sciences. As the leading body for many of the UK’s biggest pharmaceutical manufacturers and suppliers, EFPIA’s comments are not to be overlooked. The association claimed a decision to leave the EU would prevent businesses collaborating on the development on new drugs as well as excluding the UK from what is a highly lucrative marketplace.

Similar views have been aired by the BioIndustry Association (BIA), a body dedicated to innovation in UK bioscience. The organisation suggested that to leave the EU would put the development and release of new technologies at risk. It went on to say that Brexit would pose real difficulty in terms of upholding regulation frameworks. The body’s top executives suggested Brexit would negatively impact on the life sciences sector as well as leading to disruption, expense, and significant regulatory burdens for a new authorisation system.

The UK is currently at the centre of the European pharmaceuticals industry, housing the European Medicines Agency right here in London. Of course, should a leave vote come about, EMA’s tenancy would quickly terminate and the UK would be excluded from debates on regulation, approval and procurement frameworks. That is, unless the UK remained compliant with EU regulation – a prospect one would think no-voters would scoff at.

The UK currently pays £12bn a year to be a part of the EU, a figure many have said is disproportionate to what we get back in trade agreements. While PM David Cameron is vehemently supporting the no campaign, it has been widely reported that some of his top cabinet members, and Mayor of London – Boris Johnson, are in the yes camp.

The general public will be able to have their say on the 23rd June.

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