Higher education, research and science in the UK is facing an uncertain time off the back of this morning’s result. Dame Julia Goodfellow, president of Universities UK, has issued a statement saying that leaving the EU would “create a significant challenge for universities”. There has never been any doubt that Britain’s membership of the EU is extremely beneficial to all of the UK’s science, with universities and research institutes benefiting hugely from funding and access to Europe’s top scientists. The sentiment behind our nation's academics was clear, with all the country's big university towns; Oxford, Cambridge and Manchester voting to remain.
For companies operating in the field of science the clear losers have been Britain’s small-caps that gain funds from the EU. The majority of Aim’s biotech and pharma companies have seen share price plummets this morning, with Tiziana Lifesciences (TILS) the biggest faller, down 25 per cent. Small renewables companies have also taken a hit, having been great beneficiaries of EU clean energy laws and funding.
For big pharma, the outlook is unclear. Trading is unlikely to be impacted, but with drugs regulation having previously fallen under EU laws, pharma companies will face an uncertain few months (or even years) waiting to hear how UK drugs will now be regulated and approved.
The overall sentiment is, however, that today’s result is a huge loss to science in the UK. Students, academics and companies will certainly see funding cut and environmental laws wavering.
Read all our Brexit reaction:
Carney talks up capital levels
Consumer confidence could see 'significant swings'
