The British industry is hoping to closely coordinate and work with the European agencies to retain their edge. However unless they can work up a miracle and secure passporting rights, access to the bloc’s single market will be elusive.
Pharmaceutical companies based out of the UK have called for a phased transition in drug regulation so as to avoid disruption in supply, once the country leaves the EU.
Currently Britain is part of the European Medicines Agency (EMA), which acts as a one-stop-shop for approving and monitoring the safety of drugs across the bloc.
With general election looming in the country, the Association of the British Pharmaceutical Industry (ABPI) stated that it was important that the next government prioritizes a smooth regulatory handover.
“It is in the mutual interests of our new government and the EU to minimize the potential impact to patient health and well-being. Agreeing a phased transition for the UK’s new relationship with the EU can help prevent ‘day one’ disruption,” said the trade group in its election “manifesto”.
Drug manufacturers across the UK are hoping they can continue to work and coordinate closely with the EMA after Brexit through a system of reciprocal or mutual recognition.
The idea however may not hold much water since Britain will be outside EU’s single bloc market and will thus face significant hurdles for this close cooperation.
Many industrial companies ranging from plastic moulders to aerospace ones, are concerned regarding the vacuum in the regulatory framework once March 2019 happens.
In addition to this, the ABPI has also urged the government to adopt an industrial strategy that ensures that Britain will continue to be the leader in pharmaceuticals. It has called for an increase in investment in healthcare so as to meet the G7 average.