We’ve created our very own 12 days of Christmas for the life science sector. Medical Plastics News, Digital Health Age and European Pharmaceutical Manufacturer put a festive feel on the news in 2016.
For some in the life science sector, one of this year's biggest headlines won’t feel so festive at all.
The true impact of Brexit on the industry is still largely unknown. Until the UK invokes Article 50, the now infamous document that will officially trigger the process of leaving the European Union, markets everywhere are stuck in a state of flux.
But uncertainty has proven to be an excellent trigger for debate and contemplation in life sciences.
One positive early indicator for the UK sector is the news that GSK will make £275 million of new investments at three of its manufacturing sites in the UK to boost production and support delivery of its latest innovative respiratory and large molecule biological medicines.
The UK's business and energy secretary, Greg Clark said: "An investment of this scale is a clear vote of confidence in Britain and underlines our position as a global business leader.
"GSK's recognition of our skilled workforce, world leading scientific capabilities and competitive tax environment is further proof that there really is no place better in Europe to grow a business."
But in spite of these reassurances, members of the life science community have been quick to express concern over Brexit.
Thrown into particular focus on social media was the future of the European Medicines Agency:
Executive coach Alan Denton of The Results Centre sat down with us back in October and offered a philosophical view, in particular for the pharma industry.
“As an industry, the pharma sector was largely pro remain in June’s EU referendum. However, it has also been one of the industries least affected by the fallout – so far. Seen as a safe bet for investors during times of economic uncertainty, pharma was one of the few sectors with no real fall in share prices after the summer’s shock result.
“As people will always need life-saving drugs, most areas of pharma are relatively immune to macroeconomic conditions. Furthermore, with around 40% of UK sales taking place in the US, the weaker pound has made our products more competitive.”
Can we afford to rest on those laurels, however? Where regulation is concerned, much has been made of the uncertainty that lies ahead.
Farzad Henareh, vice president business development EMEAA, Stericycle ExpertSolutions told EPM:
“In this vacuum of regulatory uncertainty, there is every reason to fear that harmful drugs will enter or remain on the market”.
The industry is certainly showing signs of regulatory concern. Clive Cookson, writing for the FT reported that the UK EU Life Sciences Steering Group, led by Sir Andrew Witty, chairman of GSK, and Mene Pangalos, executive vice-president of AstraZeneca’s innovative medicines unit, has conducted a first meeting with ministers to explain what the sector needed to thrive outside the EU.
Cookson says that one of the key concerns arising from the initial meeting is prioritising a regulatory co-operation agreement with Europe.
As we go into the new year, life science organisations remain vocal in their support for a smooth transition during the process of Brexit, and one which does not bring about a regulatory nightmare that could slow down the delivery of vital treatments.