Brexit's threat to the drug industry doesn't scare Novartis

Many pharmaceutical company executives are concerned over Brexit's impact on the European drug market, but Joe Jimenez, CEO Switzerland-based Novartis, doesn't fall in that category.

The European Medicines Agency — EU's regulatory body — is expected to relocate from its London headquarters in a move that many drug executives believe could disrupt the drug approval process and hurt future investment, research and jobs within the drug industry, according to Reuters.

Mr. Jimenez, on the other hand, does not believe the relocation will hamper the EMA's efforts to approve new medicines in an orderly fashion. He said the company plans to maintain its investments in Britain.

"We will continue to invest strongly in the UK despite the decision to exit the EU as we see very large areas of unmet medical need and the innovation Novartis brings can help patients in the UK," Mr. Jimenez said. "There are many countries in Europe, namely Switzerland, which are not in the EU, and we continue to invest in those countries as well as in the EU."

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