EMA And Brexit: Rental Liabilities Could Add €350m To Relocation Costs
The EMA could be landed with a hefty rental bill on top of the actual costs of relocating to another European city, raising questions as to who will bear the financial burden. Meanwhile, the EMA has met with EU regulators to discuss future allocation of work, and Barcelona, Spain’s second city, has officially joined the race to host the agency.
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Five countries appear to be ahead in the battle to host the European Medicines Agency after Brexit, judging by the results of a European Commission assessment and an EMA staff survey, although much horse-trading among member states is expected before the winner is announced in November.
Brexit is likely to be costly for the European Medicines Agency. Its management board is unhappy the agency was not allowed to use funds from its original 2016 budget to create a “contingency reserve” for dealing with the challenges relating to the departure of the UK from the EU.
The EU medicines network is advising drug companies to be proactive in screening their marketing authorization applications to determine whether regulatory action is needed in anticipation of the UK leaving the EU. More than 350 centrally approved products are affected.