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Brexit will have negative impact on UK healthcare sector, says pharma

The majority of pharmaceutical professionals now say Brexit will have a negative impact on the UK healthcare sector, a survey has revealed.

Negative sentiment amongst healthcare professionals about the impact of Brexit on the UK healthcare sector has increased over the last three months, according to data and analytics company GlobalData.

GlobalData’s latest report, published on 28 November, found that 59% of healthcare industry professionals responding to the survey now have a negative sentiment about Brexit’s impact on the UK healthcare sector, compared to only 42% who expressed the same opinion in June 2018.

Healthcare professionals from the UK, EU and US took part in the survey with respondents from the EU expressing the biggest fall in Brexit confidence, with a 28% increase in negative sentiment since the previous survey.

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The report is based on a quarterly 10-minute survey of 135 participants from the pharmaceutical industry, both within and outside the UK, who were asked about the impact of Brexit on the healthcare sector as well as their evolving sentiment towards Brexit.

Alexandra Annis, managing healthcare analyst at GlobalData, said one potential explanation for the increase in negative sentiment in Q3 was “less clarity over the future of Brexit, especially in the EU”.

“The Brexit process has a long way to go and is filled with uncertainty as a ‘no deal’ Brexit becomes an increasing possibility,’’she said.

Ms Annis added that given the importance of the pharmaceutical industry to the UK economy, “the current negativity around Brexit must be of concern”.

“Understanding the impact of Brexit on research and manufacturing, corporate strategy, and relocation as well as tracking the evolving sentiment of Brexit’s impact on the UK healthcare industry is of significant importance to help pharmaceutical companies make the most of Britain leaving the EU,”she said.