Impact of the EU referendum on pharma still unclear

The European pharmaceutical industry faces a prolonged period of uncertainty in the wake of the UK referendum vote on EU membership, with the future location of the European Medicines Agency (EMA) high on the list of questions raised by the leave vote. As the EMA is located in London, Brexit means that the agency will likely be relocated to an EU member state, with Italy and Spain the latest candidates to throw their hats into the ring. At the moment around 890 staff work at the EMA’s building in Canary Wharf. For its part, the EMA has tried to soothe anxieties, issuing a statement earlier this month insisting that its “procedures and work streams are not affected by the outcome of the referendum”. The regulatory authority added that will “continue … operations as usual, in accordance with the timelines set by its rules and regulations.”