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EMA Laments Lack Of Brexit Contingency Reserves

 
• By Francesca Bruce

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.

Brexit
EMA report regrets lack of Brexit contingency reserves

The European Medicines Agency’s management board “regrets” that the agency was not permitted to use funds from its original budget for 2016 for a Brexit contingency reserve.

The currently London-based EMA saw its initial 2016 budget cut by €16.3m from €324.7m to €308.4m as a result of a considerable weakening of sterling in the wake of the...

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