The Treasury continues to engage in “positive discussions” with AstraZeneca regarding the future of its vaccine plant in Merseyside. Former Chancellor Jeremy Hunt had previously announced the pharmaceutical giant’s plan for a new £450 million vaccine plant in Liverpool, part of a broader £650 million investment in the UK.
Reports have indicated potential deadlock in talks between the Government and AstraZeneca, with suggestions of reduced state support for the project, from £90 million to £40 million. These reports further speculated that AstraZeneca might consider relocating its manufacturing operations overseas, potentially to the US or India.
The Treasury asserts its commitment to making the UK an attractive hub for developing and manufacturing innovative medicines. A spokesperson stated, “We are committed to making the UK one of the best places in the world to develop and manufacture new and innovative medicines, and we are in positive discussions with AstraZeneca to support the delivery of this planned investment in Speke.”
Meanwhile, AstraZeneca reaffirmed its commitment to the UK. A company spokesperson commented, “We are committed to pursuing the opportunity at Speke and are in constructive discussions with the UK government. There are no discussions ongoing in the US or India.”
This was echoed by AstraZeneca CEO Sir Pascal Soriot in remarks made in July, asserting that the company was “absolutely ready to go” at Speke and that the government deal was progressing. He emphasised the need to finalise the agreement swiftly to proceed with the investment.
The investment initiative was officially announced by Mr Hunt in March in the House of Commons. He stated, “AstraZeneca’s investment plans are a vote of confidence in the attractiveness of UK as a Life Sciences superpower and strengthen our resilience for future health emergencies.”
In alignment, Mr Soriot conveyed that AstraZeneca’s planned investment would bolster the UK’s pandemic preparedness and underscored the company’s persistent confidence in UK life sciences. He highlighted, “AstraZeneca’s planned investment would enhance the UK’s pandemic preparedness and demonstrates our 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.”
Notably, 2024 marks 25 years since the merger of UK-based Zeneca Group and Swedish Astra AB, a milestone that underscores the company’s British roots and global impact. Mr Soriot expressed pride in the company’s heritage and evolution, stating, “We are proud of our British roots and how far we have come over that time – 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.”
The Treasury and AstraZeneca both maintain a positive outlook on the future of the £450 million vaccine plant in Merseyside, reiterating their commitment to the UK’s position as a leading location for life sciences and innovative medicine development.