IMPACT OF BREXIT ON THE PHARMACEUTICAL INDUSTRY

The decision of the United Kingdom (UK) to leave the European union (EU), commonly referred to as Brexit, has had a profound impact on various sectors of the economy, including the pharmaceutical industry.This comprehensive report aims to analyse the multifaceted impact of Brexit on the pharmaceutical sector, exploring the challenges that have emerged, the opportunities that have arisen and the potential outlook for the industry.Through a examination of trade implication, regulatory changes, research collaboration, supply chain disruption and market dynamics, this study provides a holistic view of how Brexit has reshaped the pharmaceutical landscape.The departure from the European Medicine Agency (EMA) resulted in separated approval process, increasing regulatory burdens and potentially delaying the availability of new drugs in the UK.Brexit also created opportunities for the UK to develop its regulatory framework and pursue independent trade agreement.The overall impact of Brexit on the Pharmaceutical industry has been marked by increased complexity, regulatory hurdles, and a need for adaptation to a new post-Brexit landscape.