Given the issues with MercuryPharma Liothyronine (cost, Yellow Card reports, etc.), I was prompted to look again at the MHRA site regarding product licences. Must have been quite a while since I looked - much has changed from what I remember. (Or is that my memory playing tricks?) Most particularly, there is something called the Mutual recognition procedure.
My take on it is that a medicine that has been granted a licence in one EU country can apply for another country to grant a licence simply because it already has one in another EU country. Obviously this is not automatic. There will be checks. Perhaps not all national approval systems are equally trusted, etc. But, at heart, it might indeed be much simpler for a liothyronine producer in another EU country to get a UK product licence.
The most obvious company, it appears to me, is Sanofi - given that in France it sells Cynomel, and in Germany, under its Sanofi Deutschland name (formerly Henning) it sells Thybon. Sanofi already has a UK presence.
We don't know what is happening behind the scenes. Is it possible that this is in part why MercuryPharma are doing what they are to the price? Rake in as much as they can before the competitor(s) come to market? Doesn't in any way excuse or justify their actions, but just might help to explain them. What they have done otherwise looks like market suicide whereas this would be execution by a competitor.
Or am I simply an optimist?
Mutual recognition procedure (including repeat use)
Use the mutual recognition procedure when your product already has a national licence in at least 1 EU country, and you want to market it in more EU countries. The principle is that the countries you wish to add recognise the national licence(s) already granted.