Brexit: A nightmare for healthcare and pharmaceutical industry?
Brexit has a major implication on healthcare and pharmaceutical industry.
The policy of freedom of movement and mutual recognition of professional qualification within the European Union means that people can come from Europe to England for work. The significant portion of the workforce (5% of the NHS workforce and 8% of the social care sector) are from other EU countries. The clarification of citizenship is a major challenge. The EU citizens need to apply for EU settlement scheme by June 2021. The government published immigration White Paper, which states that a threshold on earnings is proposed, which may restrict the movement of health professionals to the NHS.
Research and development:
According to a publication from Global Data, 47% of the US respondents, 52% of the UK respondents and 72% of the European respondents consider the UK will not be an attractive destination after the Brexit.
According to a report of the Guardian, Brexit has a major impact on the pharmaceutical industry. AstraZeneca has stopped the investments in the United Kingdom. Its chairman expressed the view that Britain should not become an isolated island post Brexit.
Eisai senior executive said that they are not interested in making the investment until uncertainty was cleared.
Novartis and Pfizer have planned to closed their manufacturing sites by 2020. However, the company denied that it was related to the Brexit.
EMA started its functioning in Amsterdam cutting 900 jobs in the city of London.
GSK, the biggest manufacturer of UMK which is headquartered in London is struggling in its sales not getting affected because of the Brexit.
AstraZeneca, an Anglo-Swedish based company started its testing in its Sweden location.
Pfizer has closed Havant site, however, the company denied that it was related to the Brexit.
MSD and Novartis are boosting additional supplies. Novartis, one of the major supplier for NHS, with no-deal Brexit, it will highly impact the access of drugs to the patients within the United Kingdom.