EMIG Brexit Barometer Results Show Alarm in Pharma Sector

The results of the Q4 2018 survey show a concerned position amongst the industry having worsened.

The key findings are:

• Just 16% have confidence in the Government's handling of the Brexit negotiations to date.
• 73% have little or no confidence that the Government will obtain a good deal for the UK pharma industry.
• 65% think that not delivering a good deal will lead to higher prices for medicines and devices.
• 71% think that not delivering a good deal will lead to delays to access to medicines and devices.
• 24% think that the Government's proposed Withdrawal Agreement represents a good deal for pharma.
• 19% think that the relationship declaration represents a good deal for the pharma industry.

EMIG is a multi-stakeholder network and trade industry association that represents the interests of the full span of life sciences companies in the UK. Its industry members range from new business start-ups focused on R&D, through to well-established companies delivering a wide range of essential medicines to patients. Its members supply 50% of branded medicines by volume to the NHS.

Leslie Galloway, Chair of EMIG, commented to us: "The results of our Brexit Barometer survey are not surprising, particularly with the political divisions at Westminster continuing to edge us closer to a no-deal Brexit. It is now too late for a second Referendum unless we either revoke Article 50 or postpone it. Revocation requires only the decision of the UK Government but delay, ironically, requires approval of all 27 EU members States and it is reported that the EU see little point in delaying Article 50. So, the options will become fewer by the day, if Parliament rejects the Prime Minister’s deal. Our industry has been asking for what will work for patients, healthcare and the economy and now is the time for a degree of certainty."

Comment

It is not surprising that strong concerns have only heightened given the political uncertainty and lack of agreement and alternatives from all sides. There remains a lot of uncertainty around Brexit - not least arising out of the current political uncertainty in the UK's Parliament. Pharma businesses are still doing their best to plan and understand what happens next following Brexit. Things may become clearer after Brexit date itself.

Through PING (Pharmaceutical Industry Network Group), we will be holding a conference in association with EMIG, on 3 April 2019 just after Brexit date, on how Brexit is affecting the pharma supply chain. There are limited places, but if you are interested in attending the event, please contact Paul Gershlick in our Pharmaceuticals and Life Sciences team on 01923 919 320.