CPL Physicians’ host “CMO Working Group Dinner” at the Harvard Faculty Club
As part of the formal launch of our US office in Cambridge, MA, CPL Physicians, a sister brand to UK based Only Medics and part of the Clinical Professionals Group, hosted an event that brought together a number of eminent senior physicians from the greater Boston Biopharma and Med Tech industry. In an intimate dining suite at The Harvard Faculty Club the group assembled under Chatham House rules to discuss some of the challenges in industry particularly within Medical Affairs.
However, as the discussion commenced Brexit seemed to be an area all wished to discuss. Interestingly, the Group’s initial thoughts, was that there would be minimal impact and the UK would remain a great location to do business within life sciences. As the discussion progressed it began to challenge the initial opinion, with half of the group feeling the impact of Brexit still had the potential to create a negative impact, most pertinently around the uncertainty and lack of clarity currently available.
As the event progressed, we noticed that none of the Group were aware of the UK Life Sciences Strategy launched in the late summer of 2017. On deeper reflection, key fears expressed were around the specific challenges that could arise from the regulatory environment. Again, the lack of clarity available and transition of EMA led to concerns that this uncertainty would be a significant block in considering investment in the UK for expansion until resolved.
Ongoing investment within the UK was also raised as a potential concern, however this incredibly experienced US senior Physician group was unaware of government commitments around matching EU funding in a post Brexit landscape. This went on to raise significant concerns around NICE and the difficulty of reimbursement and getting new drugs into the NHS.
From a positive perspective those who had done business in the UK were unanimously impressed at how easy and smooth the process had been. Strong praise was given for the MHRA from the Chief Medical Officer (CMO) of a significant US business looking to expand in the UK, and there was consensus from the group around the work of the Department of International Trade (DIT) and efforts of the British Consul in Cambridge, MA. However, until the UK brings clarity and a level of certainty to a post Brexit landscape, significant investment opportunities could go elsewhere.
In conclusion feedback from the group was that whilst it was useful to have the opportunity to be involved in expressing views and listening to those of others, one of the greatest benefits of the CMO Group coming together was the opportunity to spend some quality time within such an interesting peer group and to discover the many initiatives and activities taking place in industry.
As a result, a quarterly evening event will take place in the USA and in the UK a series of breakfast meetings throughout 2018.
Should you wish to be considered for involvement in the group please contact Stuart Gilboy, Managing Director CPL Physicians US or for the UK, Louise Wraight, Divisional Director Only Medics:
Tel: (617) 844-1434
Tel: +44 (0)118 9522 799
The first group meeting in the UK will take place in April 2018 and we hope to share their views with our US colleagues and find where common themes are occurring.