SME Pharma companies increasingly worried about Brexit

Just after the likes of Airbus and BMW warned they would have no choice but to stop investing in the UK if the EU and UK cannot agree a practical trade and customs deal, the Ethical Medicines Industry Group (EMIG) undertook a second survey on the reaction of SME pharma companies to the UK government’s handling of Brexit negotiations.

In March, the UK and EU agreed a transition deal which gives the UK two further years on almost the same trade and regulatory terms as exist currently. But despite this, 26% of the 50 respondents said “We do not have any expectation,” an increase from 18% the last time they were surveyed by EMIG.

Leslie Galloway, EMIG’s chairman, said: “The whole thing is a mess, which is the one consistent thing people say about the Brexit negotiations. This second survey was conducted shortly after the transition deal was agreed, so I had expected more optimism, but that’s clearly not the case.”

Prime Minister Theresa May has secured parliament’s backing for Brexit legislation, but some EU countries are expected to resist the UK’s demand for frictionless trade post hard Brexit. She believes she will be able to publish a White Paper setting out the government’s post Brexit plans for medicines, agriculture, trade and customs by the end of July. Meanwhile all pharma companies operating in the UK will have to plan for the unknown.