AstraZeneca makes surprise U-turn with £300m pharma investment
Summary
AstraZeneca has decided to invest £300 million in two sites in the UK, reversing its earlier decision to pause large projects. This new investment aims to support drug development and protect jobs in Cambridge and Macclesfield.Key Facts
- AstraZeneca paused large projects in the UK last year due to concerns about the business environment and NHS drug pricing.
- The company will now invest £300 million in sites at Cambridge (its headquarters) and Macclesfield.
- The investment includes completing the Rosalind Franklin building and creating a “lab of the future” using digital tools.
- UK Labour leader Keir Starmer announced the investment, highlighting job protection in both locations.
- AstraZeneca had previously stopped a £200 million investment in Cambridge and a £450 million vaccine facility in Merseyside due to reduced government support.
- AstraZeneca CEO Pascal Soriot praised the government’s efforts to improve patient access to medicines.
- AstraZeneca reported an 8% revenue increase to $15.3 billion, with strong growth in cancer and rare disease drugs.
- GSK also showed growth in cancer drug sales, with vaccine sales rising slightly despite challenges in the US market.
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