Ot - one last brexit thread. Regulations

[Rjk]

Feel free to ignore if had enough of them.

I work in the medical device industry. It is a heavily regulated industry, but highly profitable.

Typically when we develop a new device we will usually launch it in the EU or the EU and the USA. This is because it is a considerable effort and expense meeting all of the different regulatory requirements for each country that we go for that we go for the biggest hitters first. USA is the biggest market, but is more paperwork. EU is easier paperwork (Self certification).
Beyond that we would usually look to China, and Japan (which are a complete bitch to sort out and you're looking at several years for approval) then pick off the individual countries after that if there is enough of a market to warrant the effort.

If we break away from the EU, presumably we either will just accept devices deemed acceptable for Europe (and have no influence over the regulatory requirements) or develop our own regulations meaning that medical devices take years more to be released here.

I would imagine that a similar situation is with the pharmaceutical industry and new medicines and maybe other industries too .

[Llanedeyrnblue]

Presume

[Rjk]

Presume

Either option isnt good