AstraZeneca pauses £200m expansion in Cambridge
AstraZeneca freezes £200m expansion plans in government blow
- British drug giant AstraZeneca has paused a planned £200 million expansion of its research site in Cambridge.
- This decision follows the earlier abandonment of a £450 million vaccine plant in Merseyside, which was a blow to the government's economic growth plans.
- An AstraZeneca spokesperson stated the Cambridge expansion was paused due to constant reassessment of investment needs, while CEO Pascal Soriot previously cited economic viability for the Merseyside cancellation.
- The pharmaceutical firm recently announced intentions to invest $50 billion (£37 billion) in the United States over the next five years.
- This significant US investment, which includes a new manufacturing facility in Virginia, comes amid the looming threat of President Donald Trump’s trade tariffs.