AstraZeneca Scraps Plan To Expand UK Vaccine Plant

Pharmaceutical company AstraZeneca canceled a planned £450 million ($560 million) investment in a vaccine manufacturing plant in northwest England, blaming the new Labour government for reducing the financial support previously offered by the Conservative administration, the Associated Press (AP) reported.

AstraZeneca gained prominence during the coronavirus pandemic when it partnered with Oxford University to develop one of the vaccines. I Photo: gencat cat Wikimedia Commons

In a blow to Treasury Chief Rachel Reeves at the end of a week in which she promoted the government’s plans to boost British economic growth and attract international investors, AstraZeneca announced it would no longer expand its facility in Speke, near Liverpool.

“Several factors have influenced this decision, including the timing and reduction of the final offer compared to the previous government’s proposal,” a company spokesperson said.

However, the existing facility will continue operating, and no jobs are at risk.

The government stated that a “change in the make-up of the investment” proposed by AstraZeneca, which is headquartered in Cambridge, England, had led to a revision in the grant it was willing to offer.

The previous government claimed that the investment would have strengthened the UK’s life sciences sector while enhancing public health protection and pandemic preparedness.

AstraZeneca gained prominence during the coronavirus pandemic when it partnered with Oxford University to develop one of the vaccines.