British pharmaceutical giant AstraZeneca has paused a planned £200 million expansion of its research site in Cambridge. The company confirmed the decision on Friday but provided no further details about the reasoning behind the pause.
An AstraZeneca spokesperson said: "We constantly reassess the investment needs of our company and can confirm our expansion in Cambridge is paused. We have no further comment to make."
Merseyside setback continues
The move follows AstraZeneca's earlier abandonment of a £450 million vaccine plant investment in Merseyside this year. That cancellation dealt a significant blow to the Government as it seeks to demonstrate its commitment to economic growth and attracting international investors.
In February, AstraZeneca chief executive Pascal Soriot said he was "very disappointed" in the move to scrap the Merseyside site but that the company "couldn't make the investment economically viable". Soriot denied any rift with the Government over the decision and said Labour had failed to match the previous government's offer of support.
Budget reversal impact
The cancelled Merseyside plant had reversed an announcement made by then-chancellor Jeremy Hunt at last year's March budget. The facility would have expanded AstraZeneca's existing site in Speke.
US investment focus
Last month, AstraZeneca announced plans to invest 50 billion dollars (£37 billion) in the United States over the next five years. The investment comes amid the looming threat of President Donald Trump's trade tariffs.
The funding will support a new "state-of-the-art" manufacturing facility in Virginia, set to become the company's largest single manufacturing investment globally. AstraZeneca will also expand research and development and cell therapy manufacturing across Maryland, Massachusetts, California, Indiana and Texas.
Sources used: "PA Media" Note: This article has been edited with the help of Artificial Intelligence.
