AstraZeneca threatens to move UK vaccine manufacturing to US

finance
Created 8/22/2024
Updated 8/22/2024

AstraZeneca is threatening to move its vaccine manufacturing operations from the UK to the US due to a potential cut in state aid from £90 million to £40 million by the Labour government. The company, unhappy with the reduced funding, is considering relocating to Philadelphia, where the US government offers more substantial financial incentives. This move could diminish the UK’s role in vaccine production and weaken its life sciences sector. AstraZeneca insists it is still negotiating with the UK government but warns of potential impacts on the UK’s manufacturing capabilities.

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