In March 2024 the UK Government announced that AstraZeneca plans to invest £650 million in the UK to boost the “world leading Life Sciences sector” and “grow the economy”. The investment is expected to “enhance public health protection and pandemic preparedness”.
Vaccine investments
AstraZeneca reportedly intends to invest £450 million at the manufacturing site in Speke, Liverpool, to support the research, development, and manufacture of vaccines. The site already provides a “world leading childhood vaccination programme”. The new facility will be designed and built to be “operationally net zero” with power from renewable energy sources.
Further support for the UK’s “resilience for future pandemics and global health threats” comes in the plan for an AstraZeneca partnership with UKHSA to advance science for developing and evaluating vaccines with technology from the site in Speke and the UKHSA’s Vaccine Development Evaluation Centre (VDEC) at the site in Porton Down. Also planned is the expansion of AstraZeneca’s presence at “Europe’s largest life sciences cluster” in Cambridge, with a £200 million investment. The facility is set to house around 1,000 employees, providing opportunities and benefits such as National Insurance cuts.
The UK’s economic plan
In the statement, the UK Government describes its tax regime as “one of the most competitive” of any major economy: “sticking to an economic plan to build a stronger economy where hard work is rewarded, and ambition and aspiration are celebrated”. AstraZeneca’s plans are the “latest step” in a plan to “deliver the long-term change that Britain needs”.
The Chancellor, Jeremy Hunt, commented that “we’ve delivered one of the most competitive business tax regimes of any major economy” within the plan to “help our key industries to grow”.
“Our £108 billion Life Sciences sector provides over 300,000 high skilled jobs across the UK and is crucial for the country’s health, wealth, and resilience.”
Mr Hunt is “sticking to our plan” to make the UK “one of the best places” to invest in the development and manufacturing of “new, innovative medicines”. AstraZeneca’s Chief Executive Officer, Sir Pascal Soriot, believes the planned investment will “enhance the UK’s pandemic preparedness” and is a sign of “ongoing confidence in UK life sciences”.
“We will continue to support the UK in driving innovation and patient access, building on the strong foundations which have been put in place.”
Sir Soriot is “proud” of AstraZeneca’s “British roots” and how far the company has come since the merger of UK and Swedish Zeneca Group and Astra AB.
“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.”
Chief Scientific Officer at UKHSA, Dr Isabel Oliver, stated that the investment will “bolster the development of the UK’s vaccine capabilities and life sciences sector”. These are “critical components of the country’s resilience to future health threats”.
“UKHSA majors on researching and developing new ways to strengthen the country’s defences against all health hazards – including future pandemics – and works routinely with a range of commercial and academic partners.”
Victoria Atkins is the Health and Social Care Secretary, who described the UK as a “global leader in the research and development of life saving vaccines”.
“Today’s announcement is testament to this country’s Life Science capabilities – and our continued commitment to pandemic preparedness and global health. As well as creating new highly skilled jobs, this investment will help maintain the UK’s position at the forefront of tackling emerging diseases and support our work to make our healthcare system faster, simpler, and fairer.”
To hear more from senior representatives of both AstraZeneca and UKHSA at the Congress in Washington this April, get your tickets here and don’t forget to subscribe for more vaccine investment insights.
