The Belgian federal government has announced its intention to host London-based EU medicines agency.
After Brexit, two of the EU’s most influential regulatory bodies — the European Medicines Agency (EMA) and the European Banking Authority — now housed in London will have to be relocated to other EU cities. As well as the prestige of hosting an influential EU body, countries see the benefit to their domestic markets if hundreds of European experts are located there.
Employing about 900 officials and scientists, the medicines regulator tests and licenses all medications that drugmakers want to sell to the 500 million residents of in the EU.
The Finnish government also announced last Friday said it will join be bidding to become the new home of the European Medicines Agency once Britain leaves the EU.
The London-based EMA has a workforce of about 900. It reviews experimental drugs and makes recommendations on market approval, which the EU Commission usually follows.
Other countries looking to lure the London-based EMA include Denmark, Sweden, Spain, France, Italy, Ireland and Poland.