AstraZeneca Puts UK Investment Plans on Hold Amid Challenging Business Environment
AstraZeneca has paused a planned £200 million expansion at its Cambridge site, citing a challenging UK business environment. This follows the company's earlier decision to scrap a £450 million investment in a vaccine plant. The suspension reflects broader industry concerns over the UK's pharmaceutical policies.
AstraZeneca, Britain's largest company, has halted its £200 million investment in its Cambridge research facility, according to a company spokesperson. This move marks the latest retreat by a pharmaceutical giant from the UK amid mounting concerns over the nation's business climate.
This suspension, initially set to create 1,000 jobs, follows AstraZeneca's January decision to withdraw a £450 million investment in a northern England vaccine plant due to decreased government support. Meanwhile, American company Merck & Co also recently abandoned plans for a new London research hub.
The decision comes as a blow to Prime Minister Keir Starmer's government, which is attempting to attract foreign investment. AstraZeneca's pivot also aligns with President Donald Trump's visit, underscoring the pharmaceutical sector's dissatisfaction with UK policies. Chief Executive Pascal Soriot has called for improvements in the business environment to foster investment.
(With inputs from agencies.)
- READ MORE ON:
- AstraZeneca
- Cambridge
- investment
- UK
- pharmaceutical
- vaccine
- government
- economy
- Pascal Soriot
- Merck
ALSO READ
CDC Awards Autism-Vaccine Research Contract to Rensselaer Polytechnic Institute
Jammu and Kashmir Fraudster Busted for Impersonating Government Officials
Akhilesh Yadav Criticizes Uttar Pradesh Government's Health and Electoral Practices
Delhi Government's Heater Initiative: A Warm Solution for a Cleaner City
Sushila Karki: Nepal’s First Woman Prime Minister to Lead Interim Government
Google News