AstraZeneca ploughs one other £1.5bn into America after shelving two main UK initiatives
AstraZeneca has announced another £1.5billion of investment in Donald Trump’s America – having shelved two major projects in the UK earlier this year.
The pharmaceutical giant – the biggest company on the FTSE 100, valued at £215billion – is expanding its manufacturing base in Maryland.
The investment will support 2,600 jobs at its biologics manufacturing plant in Frederick and a new state-of-the-art facility in Gaithersburg as well as creating 300 roles.
The announcement underlines AstraZeneca’s commitment to the US amid mounting fears over a lack of investment in the UK.
In September, it put plans to invest £200million at a research site in Cambridge on hold, after already ditching a £450million expansion of a vaccine plant in Liverpool in January.
Boss Pascal Soriot previously warned the UK is becoming uncompetitive – and it is feared Rachel Reeves will make things worse in her Budget tomorrow.
US drive: AstraZeneca is expanding its manufacturing base in America amid mounting fears over a lack of investment in the UK
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