Major pharma firm scraps £1bn UK expansion
Summary
American pharmaceutical company MSD, also known as Merck in the US, canceled a £1 billion expansion plan in the UK, citing inadequate government investment in the life sciences sector. The company will shift its research activities back to the US, resulting in the loss of over 100 jobs in the UK. MSD expressed concerns over what it sees as the UK government's undervaluation of innovative medicines.Key Facts
- MSD, an American pharmaceutical company, planned a £1 billion expansion in the UK but canceled it.
- The company will move its life sciences research to the US and cut over 100 UK jobs.
- MSD is also vacating sites at the London Bioscience Innovation Centre and the Francis Crick Institute.
- The decision is due to what MSD calls a lack of UK government investment in life sciences.
- The UK previously attracted major funding for life sciences and AI research.
- The US government has pressured pharmaceutical companies to invest more in the US.
- AstraZeneca previously canceled a £450 million expansion plan in the UK for similar reasons.
- Trump's administration has discussed imposing high tariffs on drug imports to the US.
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