The new legislation is set to be announced by Maros Sefcovic, 55, European Commission vice president, on Friday, sources confirm. It is also believed Lord Frost, 56, UK's Brexit Minister, is aware of the development and is set to deliver a statement.

       Recent negotiations between the UK and EU have focused on how to guarantee the supply of medicines from Great Britain to Northern Ireland.

       A Brussels source revealed to PA: “We believe the proposals solve all the issues that were raised about medicines.”

       Any suggested new legislation would require ratification by both the European Council and the European Parliament.

       Mr Sefcovic and Lord Frost are set to hold a phone call prior to the announcement.

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       The proposed EU legislation alteration would allow medicine suppliers based in Britain to maintain their current regulatory arrangements.

       Just last week, Lord Frost announced there had been progress in the negotiations which were expected to continue into the new year.

       The issue concerning the free flow of medicines over the border results from the Northern Ireland Protocol - a part of the Brexit deal which means Northern Ireland remains covered by the EU's pharmaceutical regulations.

       The Northern Ireland Protocol was agreed by the EU and UK in 2019 in order to avoid a hard border between Northern Ireland and Britain.

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       This means goods can flow unimpeded between the Republic of Ireland and Northern Ireland, but goods arriving from the rest of the UK are subject to controls and must comply with EU regulations.

       As Northern Ireland receives most of its medicines from suppliers based in Britain, the EU has been pushing for progress on medicines in order to avoid issues after a grace period on the changes ends in January.

       UK sources have previously suggested they were “disappointed” an agreement has not yet been reached.

       From January 1, full customs and controls are due to be introduced on EU goods entering Britain.

       Lord Frost commented earlier this week: “This is because there are specific treaty and legislative commitments to 'unfettered access' for goods from NI, because there are currently 'standstill' arrangements in place for operating the protocol, and because negotiations on the protocol itself are still under way and will not be definitively completed by January 1.”