In what was reported as an "unprecedented backlash," trade groups representing U.K. drugmakers - as well as four other industries - for the first time expressed concerns about a possible Brexit deal, having previously been more concerned about a possible no-deal Brexit.
Aimed at science, engineering and technology specialists, the changes would create a fast-track visa system that would make it easier for them to enter and stay in the country.
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In a letter to new Prime Minister Boris Johnson, Wellcome's chair wrote that leaving the E.U. without a deal would be a threat to the organization's research spending in the U.K. Johnson has said a no-deal Brexit could happen unless the bloc scraps the Irish border backstop.
While the U.K. biopharma industry will likely continue to play a significant role on the global stage, it could have trouble attracting talent, while European firms prepare for a worst-case scenario.
A report, by the UK Bioindustry Association, found that venture capital investment in UK biotech companies rose from $178 million in first quarter 2018 to $240 million in first quarter 2019.
The Financial Times reported Monday that the Japanese drugmaker would merge its UK operations with a Dutch subsidiary.
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Many supporters of the UK's withdrawal from the EU say "no deal, no problem," but drugmakers' actions suggest "no deal, big problem."
The Swiss drugmaker is concerned that a no-deal Brexit would disrupt delicate supply chains and urged the UK and EU to provide clarity in order to minimize disruptions.
A roundup of some of the biggest trends and events in pharmaceuticals, biotechnology and diagnostics in 2018, including regulatory approvals, international trends, national policy and more.
The agreement would have allowed UK pharmaceutical regulations to remain under EMA authority after Brexit. Uncertainty around the planned withdrawal has caused worry in the life sciences sector.
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A number of scenarios could indeed diminish the UK's attractiveness, but it is likely to remain an important player, with a lot riding on the future regulatory regime.
Ian Hudson, CEO of the MHRA, will step down in September 2019. He cited the country's withdrawal from the European Union as a key factor.
The UK would remain subject to EMA regulations during a "transition period" to minimize drug supply disruptions, drawing industry praise. But a trade group was also concerned that a draft political declaration could jeopardize drug safety.
The Fitch Solutions report, released this week, notes that the number of clinical trials taking place in the UK has already fallen more than 25 percent.
European Medicines Agency faces greater loss of staff than anticipated, forcing it to scale back or suspend some activities.