AstraZeneca Halts Investment Amid UK Pharma Challenges
AstraZeneca has paused a significant £200 million investment in its Cambridge research site, impacting planned job creation. This follows the abandonment of a £450 million investment in northern England and highlights wider concerns about the UK's business climate for pharmaceutical companies.
AstraZeneca, Britain's largest company by market value, has suspended its £200 million investment in a Cambridge research facility, according to a company spokesperson. This decision, impacting 1,000 anticipated jobs, represents the latest setback for British pharmaceutical ventures.
The announcement coincides with AstraZeneca's recent withdrawal of a £450 million investment in a vaccine manufacturing hub in northern England, attributed to decreased government support. U.S. firm Merck & Co also cited adverse UK business conditions in canceling plans for a new London research center.
This trend poses challenges for Prime Minister Keir Starmer's administration, especially given U.S. President Trump's impending visit. The pharmaceutical industry seeks improved investment conditions as tensions over drug pricing and investment priorities escalate.
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- AstraZeneca
- investment
- pharmaceutical
- business
- UK
- Merck
- vaccine
- Cambridge
- Prime Minister
- drug pricing
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