With Brexit uncertainty, how can Executive interims help Life Science companies navigate the change?
Following the outcome of the UK referendum on EU membership, all involved in the UK Life Science industries face many challenges.
As I see it, the main issue is the uncertainty with regards to a deal/no deal situation. The MHRA for instance, have just launched a consultation on the functions it would take over from the EMA (European Medicines Agency) in the event of a no deal Brexit – which could occur just five months after the consultation closes. Another example of how the uncertainty is surrounding these negotiations, and how little time companies will have to adapt to new processes after the outline of these systems will become known. There is precious little time for them to respond to the consequences stemming from this unprecedented situation.
From what I can see, many global life sciences companies with European Head Quarters in the UK, have or are considering moving their HQs to other European countries, the Netherlands and Germany proving popular targets. Whereas it seems that the smaller UK companies might have to outsource more to vendors in future to access other EU countries – country by country – after March 2019.
With no definite outcome in sight, companies and the NHS are most certainly having to be ready for either situation. Some companies have plans in place, ready to be executed. But for those who still need support to finalise plans for either strategies, it is good to know that there is a small, but elite group of highly experienced interim consultants dotted across the UK, who are true experts in managing uncertainty. These specialists are true masters of rapid, high level strategic plans, that can be actioned at very short notice to bring about the required restructuring and /or compliance with a new set of processes/rules/procedures and legislation. These executives can be based in the UK or in the EU. For instance, Senior Interim Regulatory, PV, Physicians, Supply Chain and Procurement Specialists, as well as Legal and Financial / CFO Executive Interims. Often people with these specific skills are not easily identified on social media platforms. Specialist Executive Interim Search companies will have a current network of these specialists. They will also know their availability to step in at extremely short notice and know their specific experience well.
Detailed plans are urgently needed to secure the continued safety and health of patients as well as the health of our life sciences industries. Now is the perfect time to utilise the skills, experience and availability of the Interim Consultant to give yourself and your company the greatest chance of succeeding.
If you would like to discuss how our network of executive Interim Consultants can help your business navigate through changing times, please contact me on +44 (0)203 950 6765 or email@example.com.
Evy Young is a Partner at Eventum Partners, a leading provider of interim and permanent Executive recruitment solutions to the life sciences and health technology sectors.
With thanks to MAP BioPharma, https://mapbiopharma.com for their invaluable insights. MAP offers an up to date, validated, web-based service, which acts as a ‘virtual’ expert to help you achieve pricing and reimbursement across major global markets.