The Brexit negotiations have been ongoing for years but the final deadline for Britain to leave Europe is the 31st of October, 2019. As the day draws nearer, health experts have warned that there will be significant shortages of medicines in Europe if there is a no-deal Brexit. This is in line with the warning from the food and drinks lobby in Britain last week. The association warned that there will be a shortage of fresh foods in the event of a no-deal Brexit.
Europe May Experience Shortage In Pharmaceuticals If Brexit Deal Goes South
Just like companies that produce fresh food and drinks, pharmaceutical firms have also expressed their concerns about the possible shortage of medicines that would affect Europe if things don’t go according to plan. Some companies announced that they are making plans to fly in supplies if things get out of hand.
According to statistics by the British parliament in 2026, medical supplies worth more than $14.5 billion is sent from Britain to other parts of the European world every year. So, there is certainly going to be some disruption to the pharmaceutical supply chain if Britain leaves the EU without signing a new deal by October 31st.
If Britain walks away without negotiating a good deal, things like regulatory approval for certain medicines will become a challenge. Manufacturers may need to increase the prices of certain drugs that will be affected by the shortage. Let’s not forget that there will be increased customs control in borders that link Britain with other European Union nations.
Right now, it’s difficult to see the full extent of the damage that a no-deal Brexit will have on the pharmaceutical industry. However, Europe is already facing medicine shortages. If there is any little disruption, things will go from bad to worse.