AstraZeneca's $578M Vaccine Plant In Doubt As UK Government Cuts Funding
Portfolio Pulse from Vandana Singh
AstraZeneca is reconsidering its $578.4 million investment in a new vaccine-manufacturing site in the UK due to a reduction in government funding. The UK Treasury has cut its support from 65 million pounds to around 40 million pounds, leading AstraZeneca to consider relocating the project to France. This decision could impact the company's vaccine manufacturing expansion plans.
August 14, 2024 | 3:04 pm
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AstraZeneca is reconsidering its $578.4 million investment in a new vaccine-manufacturing site in the UK due to a reduction in government funding. The UK Treasury has cut its support from 65 million pounds to around 40 million pounds, leading AstraZeneca to consider relocating the project to France. This decision could impact the company's vaccine manufacturing expansion plans.
The reduction in government funding and potential relocation of the vaccine-manufacturing site could delay or complicate AstraZeneca's expansion plans, negatively impacting investor sentiment in the short term.
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