Pharmaceutical giant AstraZeneca has revealed plans to inject £650m into the UK, bolstering the nation’s life sciences sector and propelling economic growth.
This significant investment in the UK’s life sciences industry not only promises to fortify public health protection but also aims to bolster pandemic preparedness.
UK Chancellor Jeremy Hunt welcomed the investment: “To drive investment, we’ve delivered one of the most competitive business tax regimes of any major economy as part of our plan to help our key industries grow.
“Our £108bn life sciences sector provides over 300,000 high-skilled jobs across the UK and is crucial for the country’s health, wealth, and resilience.
“We are sticking to our plan to make the UK one of the best places in the world to invest in developing and manufacturing new, innovative medicines – both protecting public health and growing our economy.
“AstraZeneca’s investment plans are a vote of confidence in the attractiveness of the UK as a Life Sciences superpower and strengthen our resilience for future health emergencies.”
Major investment in vaccine development
AstraZeneca is set to channel £450m into its manufacturing hub in Speke, Liverpool, dedicated to the research, development, and production of vaccines.
This move builds upon the site’s pivotal role in supplying the world’s leading childhood vaccination programme.
Notably, the upcoming facility will prioritise sustainability, with operational net-zero capabilities and reliance on renewable energy sources.
In a strategic alliance aimed at fortifying the UK’s resilience against future pandemics and global health threats, AstraZeneca will collaborate with the UK Health Security Agency (UKHSA).
This partnership will leverage expertise from AstraZeneca’s Speke manufacturing site and UKHSA’s Vaccine Development Evaluation Centre (VDEC) at Porton Down, advancing vaccine development and evaluation.
Expansion in Cambridge
AstraZeneca’s commitment extends to Europe’s largest life sciences cluster in Cambridge, with a £200m investment slated.
The facility, accommodating approximately 1,000 employees, will complement the existing £1.1m global R&D Discovery Centre (DISC), currently home to 2,300 researchers and scientists.
Today’s announcement marks another milestone in the ongoing endeavor to enact long-term transformation in Britain.
AstraZeneca Chief Executive Officer, Sir Pascal Soriot, commented: “AstraZeneca’s planned investment would enhance the UK’s pandemic preparedness and demonstrates our ongoing confidence in UK life sciences.
“We will continue to support the UK in driving innovation and patient access, building on the strong foundations that have been put in place.
“This year marks 25 years since the merger of UK-based Zeneca Group and Swedish Astra AB. We are proud of our British roots and how far we have come over that time – we are now a truly global company that has transformed the lives of millions of patients throughout the world with a relentless focus on science and innovation.”
AstraZeneca’s substantial investment underscores the nation’s formidable expertise in life sciences and further cements its footprint in the UK.
Furthermore, AstraZeneca’s forthcoming manufacturing facility for cancer medicines in Macclesfield, alongside previous investments totaling £380m, highlights the company’s sustained commitment to the nation.
