Given the recent developments across the pond and at the request of the PMD editor, I decided to do an extra post this week on the so-called Brexit. Read the full article at Physician's Money Digest (PMD). An excerpt is provided below.
Unless you live under a rock, you probably heard that the United Kingdom (UK) voted to leave the European Union (EU) by 51.9% to 48.1%. Even the Prime Minister David Cameron - who was a champion of the "STAY" campaign - announced his resignation. The media is abuzz with predictions of economic Armageddon and the global markets are looking like they are ready to collaborate - with the Nikkei down a whopping 7.92% on the news. Let me offer my opinion of how the EU losing its 2nd largest economy will impact you as a practicing physician in the United States.
For Your Practice:
As the Pound dives to its lowest value since 1985, you should be happy to learn that those imported medications from the UK are bound to get cheaper once the regulatory jitters are smoothed out. In 2014, the US imported $3.2 billion worth of medicines from the UK - back when £1 was worth $1.69, it was worth $1.37 this morning.