ABPI:? ?UK? ?must? ?remain? ?open? ?for? ?business? ?despite? ?Brexit? ?vote

The Association of the British Pharmaceutical Industry (ABPI) has pledged to take action to ensure the UK's decision to leave the EU does not negatively impact the sector.

Following a victory for the Brexit camp in the closely-contested referendum, the industry body has stated that the result will pose immediate challenges for future investment, research and jobs across the British pharmaceutical industry.

Earlier this week, the ABPI and senior pharmaceutical industry leaders joined 1,280 businesses in signing a letter supporting the Remain campaign, highlighting the benefits the sector receives from being able to trade within the world's largest single market without barriers.

It said a Brexit would mean having to re-establish terms of trade with hundreds of millions of consumers, creating a sharp economic shock – a fear that appears to have been borne out by impact of the Leave vote on global markets.

Nevertheless, Mike Thompson, chief executive officer of the ABPI, said the result needs to be respected as the wish of the British people, while calling for immediate steps to minimise the potential impact.

He said: "We are committed to working closely with the government to agree what steps need to be taken to send a strong signal that the UK is open for business."