StemCell Therapy

Future Free Trade Agreementsand NHS

Trump has been openly expressing his interest to strike a free trade deal with the UK. The US president has also blamed the freeloading countries benefiting from US pharmaceutical research and extorting unreasonably low prices from US pharma reiterating that the US has great power over the trading partners. While the president denied the UKs NHS being on a trade talk table during the 70th anniversary of NATO, speculations about Trumps interest in the NHS do exist.

The major concern is that the US will want its pharma companies to gain greater commercial access to the NHS as part of a trade deal, which could force UK healthcare services into paying higher prices for US drugs.

The year 2020 will see continued pressure on the UKs medicines supply chain. While the biggest feardrug shortage associated with No Deal Brexit is out of the picture, at least during the transition period, the concerns surrounding the drug supply chain still exists.

If the UK leaves the European Medicines Agencys (EMAs) drug approval system and develops its own, Britain is at risk of getting delayed access to new medicines.

The announcement of the Medicines and Medical Devices Bill, which includes relaxing some regulations around clinical trials, speeding up the approval of innovative medicines, facilitating the prescription process of low-risk medicines and extending the UKs lead in personalized medicine and artificial intelligence, looks promising. Nevertheless, there is not much progress and clarity on what actions will be taken to bring these initiatives forward.

Another risk can derive from the failure to implement EU Clinical Trials Regulation within the UKs regulatory system, which could affect UK participation in multinational clinical trials.

Read more from the original source:
Brexit: It Will Take Years for the UK Healthcare Sector to Stabilize - MedicalExpo e-Magazine

This entry was posted on February 12, 2020 at 11:48 pm and is filed under Personalized Medicine. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |