Tags

, , , , , , , ,

A scientist prepares protein samples for analysis at the Institute of Cancer Research in Sutton, Surrey [Image: Stefan Wermuth/Reuters].

New regulation processes, labs and approval systems for 1,700 GlaxoSmithKline products – necessitated by Brexit – will cost this single company up to £70 million, the firm’s president is saying.

That’s just one company.

Admittedly, not all firms will be affected in a similar way or to a similar degree – but if only a few large concerns like GSK are affected, what will they conclude about doing business in the UK?

And remember, this is not the only impact that Brexit is going to have, starting immediately on March 29, 2019.

Right before I started writing this article, This Writer published a piece about the effect of leaving the EU-VAT area.

Many other adverse effects have already been demonstrated, and others are being identified every week, if not every day.

Brexit is bad for business. And that means it’s bad for the UK.

Up to £70m will have to be diverted from developing new cancer drugs in order to prepare for the impact of Brexit, Britain’s biggest maker pharmaceuticals of has warned.

In a stark intervention over the extra costs being incurred, Phil Thomson, president of global affairs at GlaxoSmithKline (GSK), made clear that something approaching the figure would have to be spent whatever the outcome of trade talks.

In evidence to the Commons health select committee, he said he would rather be spending the money on the company’s efforts to find new, life-saving cancer treatments.

He said the company estimated that 1,700 of its products would be directly affected by a chaotic Brexit, with new regulation processes, labs and approval systems costing “somewhere between £60m and £70m”.

Source: Brexit to swallow £70m meant for developing cancer drugs, says GSK | Politics | The Guardian


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook