EMA Laments Lack Of Brexit Contingency Reserves
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.
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The decision on where the European Medicines Agency should be located after the UK leaves the EU has been postponed to November. The European Council has published details of the bidding process countries must follow if they want to host the EMA.
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.
The ABPI, which represents the R&D-based pharmaceutical industry in the UK, says the proposed increase in the statutory scheme rebate sends "the worst possible signal" to global investors and boardrooms.