With the Pound in freefall, I am sure we have all done a quick calculation to try to second guess how it will affect us. The most obvious is the cost of holidaying abroad; next summer’s trip to France will cost considerably more in terms of travel and accommodation but also spending money will not go anywhere near as far. As an individual, it is difficult to see an upside in this.
This change in exchange rate can also have a considerable impact on pharmacy and the wider pharmaceutical industry. When we last saw the Pound at rough parity with the Euro, we saw significant shortages of stock and a massive increase in the time and effort needed to order certain products. The reasons for this were complex and it has to be hoped that the various players, particularly the manufacturers and regulators, learned important lessons but history has a horrible habit of repeating itself. With further erosion of margins within pharmacy the pain will be all the more acute. It is difficult to know how we can prepare for such issues, but my hope is that manufacturers are working on robust plans and that regulators will rigorously enforce the obligation on businesses not to act in a way that could affect the availability of products to UK patients.