How Is Brexit Affecting the Pharmaceutical Industry?
Over the past six months, the pandemic had somewhat turned the public’s attention away from Britain leaving the EU, but Brexit has returned to the spotlight once again alongside the pandemic, fuelling uncertainty from both sides. Brexit is having a tremendous impact across many industries, and pharmaceutical is no exception. British pharmaceutical companies, and indeed those operating throughout the rest of the EU, are still wondering how Brexit will affect the pharma industry. As yet, it seems that the implications will be far reaching and deeply felt in almost every corner of the industry. Here at Clarity, we have been, and will continue to support all clients prepare for every eventuality Brexit could bring.
Bridging Supply Chain Gaps to Prepare for Brexit
The government has advised suppliers of medical products to keep an additional six weeks’ worth of stock as a “buffer” to avoid any additional disturbance when we exit the Brexit transition period at the end of the year.
Making these times even more uncertain, COVID-19 arose. Those who already had an additional six weeks’ worth of stock as per the government’s advice may have been at an advantage, albeit few were prepared to deal with the PPE shortages faced in the UK. With the increasing probability of a second wave in the UK, it undeniably means a further depletion of the medical stockpiles which have been built up and disruption amongst international pharmaceutical supply chains.
With this knowledge, it is important for pharmaceutical distributors in the UK to have an effective plan in place for increased demand for medical products. At Clarity Global Group, we have been pre-empting the market shift by having early conversations with suppliers and customers including hospitals, pharmacies, care homes and other clinical settings, ensuring that we can meet the needs of all parties involved.
How Can the Pharmaceutical Industry Prepare?
In early August, the Department of Health and Social Care (DHSC) recognised the strain that global supply chains were dealing with from COVID-19, such as the potential reduced traffic flow across the English Channel, and recommended companies to make stockpiling a key part of their contingency plans.
Although DHSC is looking at options to reduce the impact on pharmaceutical companies, director Matthew Woodcock reinforces the need for planning ahead to be best prepared for the future disruption that is to come. With substantial world events becoming a more regular occurrence, pharmaceutical businesses need to keep ahead where possible. Maintaining surplus levels of critical drug stock will allow the UK to fill the gap if we find the supply routes slow down or even become blocked. Keeping things running to the closest level of normal we can achieve is the most we can do for now.
At Clarity Global Group, we have been working harder than ever to support the pharmaceutical industry. We have invested heavily in state-of-the-art storage facilities to ensure medical supplies are available quickly whenever required. This includes specialised facilities for both chilled and controlled drug lines to ensure we play a vital role in the continuity of treatment for patients and critical illnesses during these times. To discuss how we can support your business, contact Clarity today.