AstraZeneca has announced a £300 million investment in the UK, reversing its previous decision to pause large-scale projects. The drugmaker had stalled investments due to concerns over the business environment, including NHS drug pricing and availability.
The investment will be split between two sites: £200 million for a Cambridge expansion, which was previously frozen, and £100 million for its Macclesfield facility. Prime Minister Keir Starmer announced the move in the House of Commons, stating it would protect jobs.
In Cambridge, AstraZeneca will complete an office building named the Disc, while in Macclesfield it will build a 'lab of the future' using digital tools for drug development. The company did not specify how many new jobs would be created, but said it would move existing staff into the new Cambridge office.
The investment follows a UK-US deal on drug pricing, which will lower US prescription costs and increase NHS spending on medicines, while sparing UK pharma from trade tariffs. AstraZeneca CEO Pascal Soriot thanked the government for improving patient access to new drugs.
Despite this UK commitment, the £300 million is small compared to AstraZeneca's $50 billion investment in US research and $15 billion in China. The company reported strong first-quarter results, with revenues up 8% to $15.3 billion, driven by cancer drug sales.
