The UK is a fairly interesting market for the German chemi-
cal industry, accounting for 5. 5% of sector exports. As a re-
sult of the depreciation of the British pound, the competitive-
ness of German companies has deteriorated abruptly.
Demand will also fall due to the economic slowdown.
The UK is the most important European sales market for the
German pharmaceutical industry. If domestic demand in-
creases further, Brexit would make market access more diffi-
cult if the UK decouples from the EU in regulatory terms. Ir-
respective of this, the chronically underfunded National
Health Service is likely to seek to increase the proportion of
generics, which are increasingly being produced outside