More than half (52%) of US biotech executives believe that the UK will be a ‘less attractive’ country for conducting clinical trials after Brexit, indicates new research by consultancy group Alacrita.
Also, as many as 69% stated that they thought the UK would be a less attractive country for US companies to select for their European HQ five to ten years after Brexit.
According to Alacrita, currently the UK is the preferred country in the EU for clinical trials, as well as the top choice for setting up a European HQ, but its findings suggest the country's prominent position in these areas could dwindle after 29 March.
The research also revealed that while American pharma executives see Europe as important, they don’t particularly understand the market; 98% of those responding to the survey said Europe is a key market for their products, yet just 2% described themselves as having expert knowledge on pricing and reimbursement mechanisms in the area.
The findings show that more than one in eight pharma execs in the US think about how the EU market differs to that in the US too late, with 13% saying they do this either during or after Phase III, when best practice is to consider this at Phase I, Alacritca noted, again highlighting the need for better education in this field.
Click here for an infographic on the data.