AstraZeneca pauses £200m Cambridge investment
Summary
AstraZeneca has paused a £200 million investment in a research site in Cambridge, originally meant to create 1,000 jobs. This decision follows other companies, like Merck, also shifting focus from the UK due to reduced government investment, while planning more investments in the US.Key Facts
- AstraZeneca stopped plans for a £200 million investment in Cambridge.
- The project was announced in March 2024, aiming to create 1,000 jobs.
- Merck, another pharmaceutical company, canceled a £1 billion UK expansion.
- US pressures and reduced UK government funding affect pharma investments.
- AstraZeneca announced a $50 billion investment in the US.
- UK spending on medicines dropped from 15% to 9% of the NHS budget over 10 years.
- The Cambridge site expansion would have added to an existing research center.
- AstraZeneca also canceled a £450 million investment for a plant in Merseyside.
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