European companies aren't alone in their Brexit pain. Pfizer Inc., the U.S.-based drug behemoth, says its costs for dealing with the upcoming split will reach $100 million.

The U.K.'s looming rupture with the European Union (EU) threatens to slow goods at borders that are now wide open and force companies to duplicate regulatory efforts. Pfizer said in an email that its costs stem from transferring product testing and licenses to other countries, changing clinical-trial management procedures, and other preventive measures.

The company is working “to meet EU legal requirements after the U.K. is no longer a member state, especially in the regulatory, manufacturing, and supply-chain areas,” according to a filing last month where it cited the cost estimate.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.