Post-Brexit Pharma - Navigating Commercial Strategy in the Face of Uncertainty
Significant Brexit milestones, delays and deadlines lie both behind and ahead of the UK. At time of writing, the EU has granted British Prime Minister Theresa May a six-month extension to Article 50 – postponing the already delayed scheduled departure day from April 12th to October 31st. Before a new European Commission takes office in Brussels, the UK must come to concrete decisions on Brexit. Efforts to avoid a no deal Brexit are likely to continue, but it remains to be seen whether the extension will result in ratification of the exit treaty. For the pharmaceutical industry, the impact of the UK’s future relationship with the EU is expected to affect clinical development, regulatory approval, and patient access to medicines.
Simon-Kucher & Partners has been tracking Brexit developments to anticipate potential changes since the referendum outcome in 2016. In this article, we share the perspective of our UK Life Sciences team, on how these developments can pose fresh commercial challenges, and how the best companies can be ahead of the curve. We will draw upon our in-depth research and event monitoring, and ongoing strategic engagements with global pharmaceutical companies.
The only certainty is that there will be unchartered waters for pharmaceutical companies to navigate immediately post-Brexit, and beyond. Anticipating the implications of Brexit, and making strategic preparations for the commercialisation of new medicines will be key to chartering these waters successfully