This year, we have all been distracted by the overwhelming challenge of COVID-19, and rightly so. Widespread disruptions, dramatically changed customer behaviour and government restrictions have hit all areas of business since the start of 2020. The pandemic has reduced companies’ cash flow and bandwidth, leaving businesses extremely vulnerable to further disruptions. With what has already been a tumultuous year, there is another serious challenge looming; Brexit.
While preoccupied with the pandemic many businesses have seemingly forgotten about the massive effect Britain leaving the EU will have. Others are kicking the can down the road, intentionally ignoring it until the drastic change is upon them. On September 24th, The British Chamber of Commerce said that only 52% of UK firms that trade internationally had carried out a risk assessment ahead of the end of the Brexit transition period on 1 January 2021.
Pharmaceutical companies are stockpiling medicines due to ongoing uncertainty over what will happen in Northern Ireland after Brexit.
The UK government last month threatened to rip up its Brexit withdrawal agreement with the EU and has warned that no trade deal may be agreed with the EU by the end of the year.
As a result, the industry says they “just don’t know” whether there will need to be checks on medicine going from Great Britain to Northern Ireland from next year.
“We just don’t know how it’ll work in Northern Ireland,” the ABPI’s Richard Torbett told Business Insider.
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Pharmaceutical companies are building up stockpiles of medicines to supply Northern Ireland due to widespread industry uncertainty over whether medicines will be allowed to move smoothly across the Irish Sea after Brexit.
With less than three months until the Brexit transition period ends, the