Astra Zeneca will have to shell out $30m (£21.2m) to build new facilities in Sweden to ensure it can still sell drugs across Europe after Brexit. Pascal Soriot, boss of the Anglo-Swedish pharma giant, said it would be “wasted money” better spent developing drugs. The Frenchman, who has been at the helm of Astra Zeneca for six years, bemoaned the lack of clarity over Britain’s future relationship with the EU. He fears drugs developed in Britain will also have to be tested on the Continent if a hard Brexit means the European Medicines Agency no longer covers the UK. The agency has already decided to move from London to Amsterdam. “How [else] will we get our products released into Europe?” Soriot asked.
Astra Zeneca will need to pay £$30mm (21) for new offices in Sweden to ensure it can still operate in the European Union after Brexit, the company said. CEO Pascal Soriot criticised the lack of clarity over the UK's future relationship with the continent, adding the "wasted money" would be better spent on developing new drugs. He is also concerned that drugs made in the UK will have to be re-tested in Europe if the European Medicines Agency no longer covers Britain after the separation.