AstraZeneca Halts Vaccine Plant Development Amid Government Funding Cuts

AstraZeneca has decided to halt a £450 million investment in its vaccine manufacturing plant in Liverpool, UK, due to reduced government support. Despite this, the company continues to expand globally, with significant investments planned in the U.S. and a £200 million expansion in Cambridge.

AstraZeneca announced on Friday that it is canceling its plan to invest £450 million ($558.3 million) in a vaccine manufacturing facility in northern England. This decision comes amidst decreased financial backing from the British government.

The move to abandon development at the Speke facility coincides with Prime Minister Keir Starmer's efforts to attract investment to boost Britain's economy. A company spokesperson stated, "Following discussions with the current government, we are no longer pursuing our planned investment at Speke." Factors influencing the decision included a smaller final offer compared to previous proposals.

Meanwhile, AstraZeneca remains committed to expanding its footprint globally, announcing billions in investments across Singapore, Thailand, and the U.S. The company plans to invest £200 million in its Cambridge site to continue flu vaccine production.

(With inputs from agencies.)