The European Medicines Agency (EMA) is claiming Brexit was an unforeseen event that permits it to walk away from a 25-year office lease it signed with Canary Wharf in 2014. In its latest annual report, the EMA said there were “significant uncertainties” about Brexit, and warned of potential risks for patients who rely on EU medicines or medical devices. The move raises concern that other institutions will want to follow suit, potentially damaging the UK property sector.
The European Medicines Agency (EMA) is claiming Brexit was an unforeseen event that permits it to walk away from a 25-year office lease it signed with Canary Wharf in 2014. The medicinal products regulator, which is moving to Amsterdam after the UK leaves the EU, is taking the landlord to court over the £500m ($585m) contract. The move raises concern that other institutions will want to follow suit, potentially damaging the UK property sector.