Understanding the Aftermath of Brexit: Implications for the Pharmaceutical Industry
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Now it’s official: people in the UK have voted in favor of ‘Brexit’—the British exit from the European Union (EU). While it will take at least 2 years to effectively leave the EU, the immediate repercussions are devastating. Besides causing major turmoil and volatility in global financial markets in the immediate response to the recent referendum, the value of the British pound hit its lowest level since 1985. Whereas the major banks are forced to take short-term actions to mitigate the risks associated with the referendum, involved parties are finding it difficult to comprehend what Brexit implies for their future and whether there will be a collaborative effort to ensure a seamless transition towards a new economic relationship between the UK and the rest of the world.
Although almost all industry sectors are speculating on the potential impact of the Brexit, the pharmaceutical industry will face various concerns, whereby the most significant challenge will lie in trying...
KeywordsEuropean Union European Medicine Agency European Patent European Patent Office European Economic Area
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No funding was provided for the publication of this work.
Conflict of interest
Chie Hoon Song declares that he has no conflict of interest.
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