Brexit uncertainty a factor in Shionogi's move from London

As lawmakers in the UK Parliament prepare to vote, again, on the Prime Minister’s EU withdrawal deal, the impact of Brexit is already being felt in the pharmaceutical industry.

Just five years after Japanese drugmaker Shionogi (TYO: 4507)  established its European base in London, the firm is jumping ship to the Netherlands, reacting to Brexit-related uncertainty. The choice of destination was no doubt inspired by the relocation of the the European Medicines Agency to Amsterdam.

While the firm has not commented on the reports, the Financial Times says the plan will include Shionogi  “merging its UK-based operation with a Dutch subsidiary.”