Half of US pharma execs think UK will be less attractive for clinical research post Brexit, according to poll

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4th March 2019 12:05 - Pharmaceutical

Half of US pharma execs think UK will be less attractive for clinical research post Brexit: A poll of pharmaceutical executives in the US has revealed 52% think that the UK will become less attractive for conducting clinical research within 5-10 years of Brexit. It will also become less attractive as a place for setting up a European HQ.

The study polled C-suite biotech executives at leading US companies to garner their views on how the market in pharmaceuticals is changing in Europe, and how Brexit might change future projects and business when it comes to the UK.

While over half said the UK will be less attractive for conducting clinical studies within 5-10 years of Brexit, a quarter of those polled (24%) said it would appeal more,  with the same amount (24%) saying they didn’t know. 

The UK is currently the top EU choice for conducting pharmaceutical research followed by Germany, the Netherlands and France.

European Headquarters

While the UK is currently the preferred EU country for European headquarters of US pharmaceutical companies (followed by Ireland/Switzerland, Netherlands, Germany and France), the research found that almost seven in ten (69%) said the UK would be a less attractive destination 5-10 years post Brexit. Just two in ten said it would make the UK more attractive (20%) and 11% were unsure.

The study also found that while the overwhelming majority (98%) of US pharma execs see Europe is important for their business and products, just 2% say they are fully in the know when it comes to costing and EU reimbursement mechanisms.

When it comes to looking at the EU's credentials versus the Asian market, a third (33%) said that Europe is more important than Asia for their businesses – while 42% said they are equally important. Just over one in ten (11%) said Asia was more important. 

Image: Pixabay

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