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AstraZeneca's $578M Vaccine Plant In Doubt As UK Government Cuts Funding
AstraZeneca Plc (NASDAQ:AZN) is reportedly reconsidering its planned $578.4 million (450 million pounds) investment in a new vaccine-manufacturing site, a departure from CEO Pascal Soriot‘s previous statement that the company was “absolutely ready to go.”
What Happened: The UK Treasury, under the direction of Rachel Reeves, is reportedly looking to decrease government support to AstraZeneca by over 20 million pounds.
As a result, AstraZeneca might relocate the project from Speke in Merseyside, UK to France.
The original offer, reportedly made by former Chancellor Jeremy Hunt, promised at least ...