Defeat of May’s Brexit Deal – No Brexit is the preferred outcome for pharma, says GlobalData

Following Tuesday’s (15th January 2019) overwhelming vote in Parliament defeating Theresa May’s Brexit deal,

Alexandra Annis, Managing Pharma Analyst at GlobalData, a leading data and analytics company, offers her view on the potential impact of the vote on the healthcare industry:

“Although May survived the vote of no confidence, the defeat of her Brexit deal provides substantial uncertainty for the UK healthcare industry with the potential for a ‘No Deal’ Brexit, an extension to the Brexit deadline, or even No Brexit. As of October 2018, ‘No Brexit’ was compellingly the best outcome of Brexit for pharma as indicated by *60% of respondents in the pharmaceutical sector who participated in GlobalData’s survey on the impact of Brexit on the healthcare sector.

“The regulatory implications of the UK leaving the EEA, disruption to the cross-EU supply chain, and funding for research and manufacturing are just a few of the concerns for the UK healthcare industry after Brexit.

“The pharmaceuticals industry is one of the largest and most dynamic in the UK, and is a major contributor to the economy. As well as being the home to the pharmaceutical giants GlaxoSmithKline and AstraZeneca, many other leading international pharmaceuticals companies have sizeable operations in the UK marking substantial importance to the UK economy.”

More Media