According to research conducted by CPhI Worldwide, Germany is experiencing a ‘Brexit boost’ in its pharma industry, and has been ranked number one in Europe.
The data was taken from CPhI’s annual report, which includes opinions from more than 350 international pharma companies. The results from the report have seen Germany consolidate its status as top-dog among the EU’s individual pharma markets.
It finished ahead of its rivals in several areas, including API Manufacturing, competitiveness, innovation, finished product manufacturing and growth potential.
“It is no surprise that Germany has again emerged as a global pharmaceutical leader. However, the country has further increased its score, suggesting it has consolidated its position as Europe’s top pharma industry,” said Orhan Caglayan, brand director at CPhI Worldwide
In the same time that Germany’s pharma market has experienced exponential growth, the UK’s has declined due to Brexit uncertainty, according to the report. Germany is perceived as seeing the benefits of Brexit in its medium-term growth potential, while there has been an equal drop in the UK’s scores which directly correlate with these gains.
According to CPhI, the most notable trend is a sudden rise in anticipated growth potential for Germany in 2019/2020, which saw an increase of 11% from 2018.
Researchers have attributed this rise to the shifting European outlook over recent years to wider macro changes – and the continued strength and potential of European pharma.
In September, the Association of the British Pharmaceutical Industry (ABPI) outlined areas that need to be addressed to strengthen the UK’s pharma industry.
This included investing in infrastructure and science to help develop innovative medicines – one proposal was modernising R&D tax credit to ensure all aspects of R&D are eligible for support, to help the UK be competitive when it comes to global investment.
The ABPI also called for the UK government to address the skills gap in the life sciences sector so that the right talent can be retained. The UK has already seen a drop in research application grants for top scientific talent, which has also been attributed to Brexit uncertainty.
Top industry leaders have maintained that guaranteeing the job and visa security for scientists is paramount if the UK wants to remain a top global power in both the pharma and life sciences sectors.
Prime Minister Boris Johnson (pictured right) has already announced that he will abolish immigration restrictions on top scientists to counter this uncertainty.
He said “to ensure we continue to lead the way in the advancement of knowledge, we have to not only support the talent that we already have here, but also ensure our immigration system attracts the very best minds from around the world”.