The European Medicines Agency (EMA) employs 890 staff and is by far, the largest EU body in Britain that will be forced to relocate following Brexit.
Whilst Britain still struggles to come to terms with what Brexit actually means, other states within the European Union have been much faster to adapt and the wheels are already in motion as countries line up to make the most of the opportunities post Brexit.
One of the biggest opportunities will be for the state chosen to be the new home for the European Medicines Agency. Currently located in Canary Wharf, London; the EMA works with individual regulatory authorities from all 31 current member states – servicing what is a multi-billion euro/pound industry.
Among those putting their hat into the ring for the EMA bid is Ireland. Other contenders include Spain, Sweden, Denmark, Italy and Germany. However, Ireland actually has a pretty compelling case when you break it down.
Indeed, as Ireland’s Health Minister has already said, “Dublin offers significant advantages as a location, not least the advantage of the English language, a strong pharmaceutical and R&D sector presence.”
Ireland; with its favourable tax rate has already seen a number of the world’s largest pharmaceutical companies opt to call it home.
In 2015, Pfzier completed a deal worth $160 billion that saw the US-based pharmaceutical behemoth move its executive offices to Ireland. Joining Pfzier in its relocation to Ireland, French pharmaceutical company, Flamel Technologies is also planning a new Dublin home. The new company is expected to go live in early January 2017, trading under the name of Adadel Pharmaceuticals plc.
With so many of the big names in the industry officially setting up home in Ireland, it would seem to make sense for the EMA to be at the heart of that collective.
Indeed, in an article that appeared in The Times last month, Simon Harris, the health minister, said that the departure of the EMA — which evaluates and monitors drugs in the EU — from London appeared to be inevitable. “Dublin would be a very suitable location and a move to the Irish capital would minimise the disruption to the business of the EMA, thus ensuring continued protection of EU citizens and providing reassurance to the industries which it regulates,” he said.
The Mission Control Communications and its sister studio, The Mission Discovery has been working with pharmaceutical and biotech companies across Europe, the United States and Asia for a number of years. “Our agency is built on the growth and success of brands in this sector,” says Patricia Killoran, Managing Director. “Locating the EMA in Ireland would be a logical decision that would benefit everyone.”