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European Biopharmaceutical Review

Ripple Effect

On 23 June 2016, the people of the UK voted on whether or not their country would stay within the EU – this controversial separation is known around the globe as ‘Brexit’. In a very slim 51.89% majority, Britain had its answer. While the shock of the result to leave the EU reverberated across the Union – and indeed the world – industry insiders everywhere began wondering: what is next?

Pharmaceutical and biotechnology companies especially are left in a state of flux while the UK navigates its every step. Before exit negotiations can take place, pharma must first address what an EU departure may look like regarding regulations, funding, acquiring talent and market access as it influences emerging technologies and future innovations; but it is also completely possible that the UK will remain an EU member depending on how Parliament and the courts move forward. Just how exactly might Brexit affect the pharma and biotech industries in Britain?

Brexit Vote Fallout

In order for Brexit to become a reality, the UK must invoke Article 50 of the Lisbon Treaty, which starts a two-year membership exit negotiation period. Article 50 lays out the specific process of voluntary withdrawal. David Cameron notably told citizens in his resignation speech that he would not be the one to initiate Article 50 and his successor would have to manage the exit. Following her appointment as Prime Minister, Theresa May confirmed that Britain would begin this procedure before the end of 2017.

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Kelly Waters is the Marketing Manager for InstantGMP, Inc. and has a varied background, spanning marketing video games to Wall Street and now life sciences. She can always be found keeping up with the latest technology trends and international news when she is not on the road being a brand evangelist and promoting her company’s software solution for pharma and biotech organisations.
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