We are pleased to announce that Novasecta’s survey and in depth analysis covering how Brexit will affect the pharmaceutical industry has been published in In Vivo. To view the article, click here. To see an earlier version of our research, click here.
In an article in The Telegraph regarding GSK, Novasecta Managing Partner John Rountree commented that, for them, “Brexit is both help and hindrance. Sterling’s weakness gives some short term benefit. However longer-term Brexit creates material uncertainties for regulation, supply chain, packaging and manufacturing, that depending on the eventual EU exit may be very costly.”
In terms of Bayer, in an article in Bloomberg, Principal Brian McGee stated that “the story that is being put through by Bayer is, ‘look how great pharma is doing’ and they’ve in some ways underestimated the market sentiment, which is now valuing them as three big businesses. You can’t have two businesses that aren’t exciting, that aren’t doing well, masked by the pharma business, which is doing extremely well.”
John Rountree, Managing Partner of Novasecta, was recently quoted in the Sunday Telegraph, one of the UK’s leading Sunday newspapers. For an article entitled “Ministers snub life sciences industry’s report on Brexit” John was asked for his perspectives on comments received by the newspaper from UK Government sources that a recent industry report “was basically the industry whining about Brexit and it was not very constructive and has gone straight into the hopper”. The UK EU Life Sciences Transition Programme Report that was referred to was issued in September based on work co-chaired by the CEOs of UK Big Pharmas AZ and GSK, and concluded with four priority areas: Innovation (keep access to EU funding for science), Commercial and Trade (maintain free trade with EU), Regulation (maintain alignment with the EU regulatory system), and People (facilitate ease of movement for talented/skilled people). John commented that the points in the report were “fairly non-controversial”. After all, it’s hard to find a pharma business that does not like state funding for science, free trade, a simple regulatory system and easy access to talent. For our initial and more thorough take on Brexit post-vote, click here. We’ve also just completed a series of interviews with 20 top European pharma executives to ascertain their thoughts on what to do about it, which we will publish soon.