The European Medicines Agency said it has heard from 21 countries that want to host the London-based regulator once Britain leaves. The EMA is preparing to leave its headquarters as a result of Brexit and the agency’s executive director reportedly said they are hoping for a quick decision on its new location.
The location will be finalized by EU heads of state at the European Council. The EMA told Reuters that representatives from countries ranging from Austria, Croatia, Denmark, Germany, Italy, Sweden and others have expressed interest in hosting the agency.
The other large EU body in London, the European Banking Authority, is also slated relocate in the wake of Brexit.
The EMA is responsible for the EU drug approval process. Much like the FDA, the agency also oversees the safety of medicines once they hit the market. The group has nearly 900 employees and an annual budget of 322 million euros ($340 million).
The EMA is the largest EU institution in Britain, which is likely why 21 of the 27 countries that will form the EU once Britain leaves have expressed interest in hosting the agency.
The EMA said it doesn’t know if all of those countries would move forward with a formal bid. Poland, which was tipped as being among the countries keen to host the agency, has not been in touch to declare an interest.
Material from Reuters was used in this report.