The deputies of the probe Brexit effect of drug sector

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Brexit can affect the cost of the medications and hit uk pharmaceutical investment, a Commons committee head has warned.

Rachel Reeves, who chairs the Business, the Energy and the Industrial Strategy (BEIS) of the committee, said that access to new medical products may also be at risk.

She said that the uncertainty about Brexit was “very worrying”, as Mps prepare to examine their effects on the industry.

They include the area of the access to highly skilled workers, after the uk leaves the European Union.

Mrs. Reeves said the evidence of the Deputies had received suggested that Brexit could threaten “the cost of medicines, the investment in the uk and access to new and innovative research and products”.

“There are serious concerns raised around the future regulation of pharmaceuticals, the mutual recognition of medications, and the possibility of damage to the interruption of the cross-EU drug supply chains,” he said.

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“This is very worrying, with the uncertainty of risking the uk, becoming a less desirable place for investment and development in the growing productive sector.

“We are willing to examine the detail of these concerns and hear from the industry what it wants the government to ensure that the transition is as smooth as possible, as we leave the EU.”

Brexit will mean the transfer of the European Medicines Agency from London to Amsterdam.

The Deputies investigation, despite the announcement last week of two large deals in the uk for the pharmaceutical sector.

The government then said that the decisions by MSD, known as Merck in North America, Germany and Qiagen illustrates the confidence in its recently announced industrial strategy for when the uk leaves the EU.

The industrial strategy white paper describes the government’s plans to support more research and development, encourage enterprises to adopt new technologies and boost the economy.

A report in the Sunday Times, said that more important investment for the sector is due to be announced soon, with GlaxoSmithKline expected to reveal a new partnership for the research.

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The Business committee has asked the opinion of all the sector and has received written communications from the big pharmaceutical companies, trade unions, industry bodies and the government.

The presentations have been published ahead of a public evidence session this Tuesday, when the committee will question the witnesses of the industry about the impact of Brexit.

Take into account the different results related with the future of the cross-border customs and trade agreements, and to consider what the government should aim to achieve in the negotiations.

Those who appear before the committee include the Association of the British Pharmaceutical Industry (APBI) and the Belgian-based Janssen Pharmaceutical, part of the us giant Johnson & Johnson.

The ABPI said the research was important.

“The written evidence received by the committee highlighted how the regulatory co-operation, an easy system to trade and the access to research funding, collaboration, and talent, ensuring the success of the development and the delivery of drugs,” a spokesman said.

“The evidence also shows that 45 million bottles of medicines that go from Britain to the EU each month and 37 million coming the other way. With this system in game, clarity on the medicines of the regulation and of trade, is urgently required for all patients across Europe.”