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System of Its Own

The UK is seeking to develop a new regulatory system for medical devices that differs from that of the European Union, the Financial Times reports. It adds, though, that early glimpses of the proposed regulations have unsettled the industry.

According to FT, the UK decided post-Brexit not to implement a new EU regulation concerning medical devices. But, FT notes, the UK medical device industry is "heavily reliant" on its EU exports, and, as such, industry leaders say UK companies will still have to abide by the new Medical Device Regulation. At the same time, academic leaders tell the paper that investors would be more likely to focus their efforts on registering devices in the EU or US, which represent more than 40 percent of healthcare spending, if they have follow a separate set of regulations inthe UK.

"It is difficult for the UK to be a truly independent regulator. If we want to be more innovation-friendly, the problem is that you're creating UK-specific rules and tests, and companies may ask 'are we going to bother?'" University College London's Derek Hill tells it.

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