AstraZeneca Invests £1.5 Billion in US, Shelves UK Projects
Pharmaceutical giant AstraZeneca is directing £1.5 billion in new investment to the United States, following its decision to pause two major projects in the UK earlier this year.
Key Takeaways
- AstraZeneca announces £1.5 billion US investment in Maryland facilities.
- Investment supports 2,600 existing jobs and creates 300 new roles.
- Comes after UK projects in Cambridge (£200m) and Liverpool (£450m) were shelved.
- CEO Pascal Soriot had previously warned about the UK’s declining competitiveness.
US Expansion Details
The FTSE 100 company, valued at £215 billion, is expanding its manufacturing operations in Maryland. The funding will bolster its biologics plant in Frederick and establish a new state-of-the-art facility in Gaithersburg.
UK Investment Concerns
This significant US commitment highlights growing concerns about investment in the UK. In September, AstraZeneca paused a planned £200 million research site in Cambridge. This followed the January cancellation of a £450 million vaccine plant expansion in Liverpool.
Chief Executive Pascal Soriot has repeatedly warned about the UK’s declining competitiveness. There are now fears that Chancellor Rachel Reeves’ upcoming Budget could further worsen the investment climate.
The move underscores the challenging environment for pharmaceutical investment in Britain compared to the United States.
