Brexit’s Impact on Healthcare and Life Sciences
The reverberations of the United Kingdom’s (UK) decision to opt for Brexit are still being felt one week on. Its aftermath has left a trail of political resignations, volatile markets and unrest in European capitals and beyond. This should come as no surprise; such a momentous decision is without parallel in peacetime politics. While immediate discussions focus on if and when the UK will invoke Article 50 and formally begin the process of exiting the European Union (EU), thoughts are also turning to the impact of the decision on the EU’s far-reaching policy and regulatory agenda.
EU institutions have not ground to a halt following the vote; the EU will continue to regulate and formulate new policies in areas that impact business and affect investment decisions not only within the EU, but globally. With 73 Members of the European Parliament, an active and effective diplomatic network, and crucially 29 votes in the Council of Ministers (the same number of votes as Germany, France and Italy), it is clear the effects are beginning to be felt already. As well as the wider political implications of the UK’s exit, FTI Consulting is taking a detailed look in this series of snapshots into what Brexit means for some of the EU’s policies of most relevance to business.