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EMA And Brexit: Rental Liabilities Could Add €350m To Relocation Costs

 
• By Ian Schofield

The EMA could be landed with a hefty rental bill on top of the actual costs of relocating to another European city, raising questions as to who will bear the financial burden. Meanwhile, the EMA has met with EU regulators to discuss future allocation of work, and Barcelona, Spain’s second city, has officially joined the race to host the agency.

EMA offices
How much will it cost to move the EMA?

The financial costs of moving the European Medicines Agency from London to another European city keep mounting up. The EU has already suggested that the costs of the move should be borne by the UK. Now another controversy is likely to flare up after it emerged that the relocation will leave the agency with an unpaid property rental bill of almost €350m ($380m).

The figure is contained in a European Parliament report on the EMA’s budget for financial year 2015, which...

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