From Stockpiling To Product Launches: Norgine Executive Shares Brexit Fears
A European firm with significant operations in the UK, Norgine has invested considerable resources in preparing for Brexit. With less than three weeks to go before the UK is scheduled to leave the EU, chief operating officer Peter Martin is very concerned about the risks of a no-deal Brexit, and the lack of clarity on what will happen next.
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UK members of parliament have ruled out a no-deal Brexit and voted to request a delay to the exit date, and they will vote again on the withdrawal deal next week. But all this just serves to exacerbate the uncertainty and frustration felt by businesses working in the pharmaceutical sector.
The drug maker looks set to join fellow Japanese firms Sony and Panasonic in moving its European legal base out of the UK as the uncertainties surrounding Brexit show little sign of being resolved.
The BioIndustry Association’s latest Brexit webinar looked at issues such as companies’ drug filing strategies in a no-deal scenario as well as the costs that industry is likely to incur as a result of changes to regulatory processes.