Looking for life sciences opportunities in a post-Brexit world – part 2

Four months ago I wrote about how it seemed the UK finally had some clarity on the direction of Brexit after a period of political uncertainty. 

Now, a year on from the referendum and as our representatives begin the exit negotiations in Brussels, it could be argued that things have actually become less clear than ever.

In the life sciences sector there’s been a growing conversation since the election about the potential risks, the biggest of which is the uncertainty around the type of Brexit we get.

Crucial answers needed

As it stands there are more questions than answers. Will we still be part of pan-EU programmes like Horizon 2020? How will we ensure regulatory frameworks covering medicines and devices remain consistent? How will we develop appropriate cross-border regulations in future for emerging therapies such as stem cell treatments? And for products already approved and on the market, how do we ensure that effective supply chains remain in place, that counterfeit products are identified and removed from the market, or that adverse patient reactions continue to be reported and addressed?  

We have to work on the basis that the UK is leaving the EU and we have to be ready and prepared to live in a new world.

Life sciences businesses should also be seeing this as an opportunity to be innovative in their processes as well as with their products. Can they work with new and different partners? It’s about being externally sensing and putting plans in place to address these issues.

Continued EU collaboration

The life sciences sector can take the lead in demonstrating that Brexit doesn’t mean an end to collaboration across Europe, particularly for the development and validation of life-saving products.  Life Sciences Hub Wales is able to facilitate those interactions between life sciences organisations across the UK and internationally to help them progress their business plans.

Despite the ongoing Brexit uncertainty, the Hub will also continue to showcase Welsh life sciences globally. Last time I set out how we hoped to achieve that by highlighting some of our international partners and networks, including our agreement with four science parks and clusters – Sherbrooke Innopole, Inartis Foundation/Health Valley in Switzerland, LifeTechValley in Belgium and Medicon Village in Sweden.