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A Crisis Within the Crisis: The Impact of Covid-19 and Brexit On Supply Chains in the Pharmaceutical Industry

Author

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  • Ralina Dobrinova Mircheva

    (Department of International Economic Relations, University of Economics, Varna, Bulgaria)

Abstract

The United Kingdom’s decision to leave the European Union creates a situation which will be observed by researchers and economists for quite a while. Keeping in mind that the UK and the EU were already facing many difficult challenges, the global pandemic took the world by storm and sparked disputes about the economic stability of countries around the globe. In the beginning of 2020 the unknowns surrounding Covid-19 and the two crises in the EU caused a “black swan” phenomenon (Taleb, 2007). Some of the questions which concern many European countries arewhere and how the deliveries of medical supplies (which are crucial during these times) will be arranged. The main goal of this paper is to examine the measures taken by the pharmaceutical industry in theUnited Kingdom related to supply chains: on the one hand, the measures taken after the declaration of Brexit, and on the other – at the onset of the pandemic. It’s also important to mention China and India as both countries exert massive influence on the chemical and pharmaceutical industry.

Suggested Citation

  • Ralina Dobrinova Mircheva, 2020. "A Crisis Within the Crisis: The Impact of Covid-19 and Brexit On Supply Chains in the Pharmaceutical Industry," Business & Management Compass, University of Economics Varna, issue 3, pages 352-368.
    • Handle: RePEc:vrn:journl:y:2020:i:3:p:352-368
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    More about this item

    Keywords

    Brexit; Covid-19; Pharmaceutical supply chain; UK pharmaceutical companies; China;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration

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