Life science leaders say UK is better off in a reformed EU

8 May 2016

The UK’s leading life science companies have today (May 8., 2016) warned that leaving the European Union could add risk to the wealth and health of the nation by bringing uncertainty to the industry, adding barriers to investment in the UK and threatening access to the latest medicines, according to a press statement issued on Sunday by the Department for Business, Innovation and Skills.

In a letter to The Observer, the chief executives of the Association of British Pharmaceutical Industries (ABPI), GlaxoSmithKline (LSE: GSK), AstraZeneca (LSE: AZ) and the BioIndustry Association (BIA) are amongst over 90 signatories who claim that the future success of the UK life sciences sector is underpinned by being part of the EU’s single market, and EU regulatory processes.

If the UK was to leave a reformed Europe, companies would have to apply for separate market authorizations to sell their products in both the UK and Europe – which could delay access for the millions of NHS patients to the latest drugs and treatments.

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