THE IMPLICATIONS OF BREXIT ON THE UK NHS AND THE UK PHARMACEUTICAL INDUSTRY

Author(s)

Sattar S, Hughes T, Marshall JD
MAP BioPharma Limited, Cambridge, UK

OBJECTIVE To identify the impact that the UK’s vote to leave the European Union (EU) has had on the UK pharmaceutical sector and what the potential longer term implications may be. METHODS: Structured desk research was conducted along with a qualitative survey of MAP online’s industry group to produce an analysis of the impact of the UK’s Brexit vote and to provide insights into what may happen in the longer term. RESULTS: One year on from the UK referendum, the vote to leave the EU has already had an impact on the UK pharmaceutical market. New innovative products launched in Europe are more costly for the NHS to procure, relative to a pre-Brexit era, due to devaluation in the pound. Inward investments have fluctuated due to uncertainty surrounding the UK’s future, despite the attractiveness of a weaker currency. CONCLUSION The current implications of Brexit point to profound ramifications for access to medicines. The EMA headquarters is set to leave London by 2019, posing a threat to the UK as the central hub and first port of call for companies not currently set up in Europe. The Brexit deal will be crucial in determining how much money is available for scientific research and development (R&D); maintained funding is essential if the UK is to remain one of the top countries for R&D. In addition, tightening border control may cause a fall in high-quality researchers being available to work in UK research facilities. Any Brexit deal should take this into account. Quickly re-establishing a stable and attractive market will be key to the UK’s success. Having lost its influence over the future direction of EMA policies, the UK should look to its own needs, giving rise to creative possibilities to cement the UK’s position as one of the most popular European markets.

Conference/Value in Health Info

2017-11, ISPOR Europe 2017, Glasgow, Scotland

Value in Health, Vol. 20, No. 9 (October 2017)

Code

PHP297

Topic

Health Policy & Regulatory

Disease

Multiple Diseases

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