Brexit fears are diverting cash from vital cancer battle, say drug firms

MILLIONS of pounds earmarked for the battle against cancer are being diverted by drugs firms towards preparations for a hard Brexit, MPs have been told.

If Britain leaves the EU without a deal in place covering their sector, the pharmaceutical companies will have to reregister and repackage thousands of medicines and conform to a welter of fresh regulations.

With just 14 months until Britain formally leaves the EU, the companies say they need to build contingency funds in case negotiations with Brussels break down without a deal in place.

Now members of the Commons Health Committee have been told no-deal contingency money is being diverted from vital work developing new lifesaving drugs. Phil Thomson, president of global affairs for drugs giant GlaxoSmithKline, told the committee his company had more than 1,700 products that would be directly affected by Brexit and had set aside £70million to prepare for new testing and regulation systems and updating every drugs pack.

Mr Thomson said: ‘Obviously, that money could be put behind clinical trials. I can tell you we have a cancer portfolio we are trying to invest in, into which that money should be going, to develop the next generation of cancer medicines. That is something we are wrestling with internally.’

The committee, chaired by Tory MP Sarah Wollaston, was also told by Mr Thomson that drug companies were being kept in the dark by the Government over the effect on their business.

He said: ‘We have been working to get to understand what the true position is. The earlier we can get clarity on a transition process, the better. And in the event of a hard Brexit, we need to be putting in plans to make sure we can manage supply and there is no disruption.’

He added: ‘The costs, I am afraid, are going to be incurred. All I would say to you is that we are going to do everything we can to minimise disruption.’