AstraZeneca is set to invest £300 million into UK drug development, a commitment announced by Sir Keir Starmer. This investment follows a US-UK agreement, finalised in April, aimed at increasing medicine prices in Britain.
Change in Direction
The new funding marks a change in direction after AstraZeneca previously paused a £200 million expansion in Cambridge and scrapped plans for a £450 million vaccine plant in Merseyside. Sir Keir Starmer hailed the investment as “significant”, stating it would “futureproof thousands of jobs” in Macclesfield and Cambridge.
Investment Details
The funds will be used to complete the Rosalind Franklin building on AstraZeneca's Cambridge campus and to develop a 'lab of the future' in Macclesfield, utilising digital and data tools for drug development. This move underscores the pharmaceutical giant's renewed commitment to the UK after earlier setbacks.
