AstraZeneca adds to Brexit uncertainty but most firms plan to stay in UK, says GlobalData

31 October 2018

AstraZeneca (LSE: AZN) offered the UK government a reminder – as if any were needed – of what is at stake in Brexit negotiations with the European Union (EU) this month by saying that it was freezing its UK investments until clarity is provided.

In its latest take on what Brexit could mean for pharma in the UK, data and analytics firm GlobalData has described the announcement from the Anglo-Swedish firm as a ‘major setback’ because it is such a major contributor to the country’s healthcare sector.

AstraZeneca is the second largest UK-based pharma company after GlaxoSmithKline (LSE: GSK). Its global sales in 2017 exceeded $22 billion. If the investment freeze was to become a long-term issue, it could cause significant harm to UK pharma.

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