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AstraZeneca pauses $270 million investment in Britain
- AstraZeneca has halted its £200 million funding plan for a research center in Cambridge scheduled for 2024, putting on hold the creation of 1,000 expected jobs.
- This pause follows AstraZeneca's earlier withdrawal of a £450 million vaccine plant plan in northern England due to reduced UK government support.
- The decision occurs amid broader industry retreat, including Merck & Co canceling a London center, driven by challenging UK business conditions and stalled government negotiations.
- An AstraZeneca representative stated that the company regularly reviews its investment priorities and has decided to put the Cambridge expansion on hold, demonstrating a cautious strategic approach.
- The scaling back signals worsening prospects for UK pharmaceutical investment, as firms respond to uncertain pricing and regulatory environments, despite government efforts to improve conditions.
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31 Articles
Keir Starmer suffers hit to economic plans after AstraZeneca ends £200m investment in Cambridge research site
Britain's largest drug-maker AstraZeneca has halted the £200million investment into its Cambridge research site in a hit to Sir Keir Starmer's economic plans
·London, United Kingdom
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Coverage Details
Total News Sources31
Leaning Left6Leaning Right4Center8Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 33%
C 44%
R 22%
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