UK Industry Skeptical Of Govt’s No-Deal Brexit Filing Expectations
The BioIndustry Association’s latest Brexit webinar looked at issues such as companies’ drug filing strategies in a no-deal scenario as well as the costs that industry is likely to incur as a result of changes to regulatory processes.
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Dr Jonathan Atkinson, partner at the UK-based intellectual property law firm HGF Ltd, sums up key expectations around legal, patent-related and trademark aspects for pharma in the event of a "no-deal" Brexit, and highlights regulatory changes that could have a bearing on the deal value of UK-bound M&A activity.
UK members of parliament have ruled out a no-deal Brexit and voted to request a delay to the exit date, and they will vote again on the withdrawal deal next week. But all this just serves to exacerbate the uncertainty and frustration felt by businesses working in the pharmaceutical sector.
The UK parliament’s decision to reject the Brexit deal could make the prospect of a no-deal exit more likely, although further votes today and on March 14 could see lawmakers rule out that option – at least for now – and opt instead for an extension of the Article 50 process. Either way, the certainty sought by industry, in particular the life sciences sector, is as far away as ever.