AstraZeneca stockpiles drugs against hard Brexit

AstraZeneca PLC (AZN.LN) said Wednesday that it is increasing its stockpile of drugs in preparation of a hard Brexit.

A spokesperson for the U.K.-listed drug maker said the company has already spent 40 million pounds ($52.8 million) in case of a no-deal scenario.

The pharmaceutical major is increasing by 20% its stockpile of drugs that it receives from Europe into the U.K., as well as those that it manufactured in the country and exported to the European Union. However, this only represents a small portion of its total manufacturing, the majority of which is unaffected, the spokesperson added.

A hard Brexit, where the U.K. doesn’t reach a deal over its future relationship with Europe, is expected to result in widescale disruption to its import of products from the continent.

The company was responding to questions from Dow Jones following a BBC Newsnight report on Tuesday.

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