AstraZeneca pauses $270 million investment in Britain

Core Points - AstraZeneca has paused a planned £200 million ($271.26 million) investment in its Cambridge research site, which was expected to create 1,000 jobs [1][3] - The decision follows a previous cancellation of a £450 million investment in a vaccine manufacturing plant in northern England due to reduced government support [2] - Merck & Co has also abandoned plans for a new research center in London, highlighting the challenging business environment in the UK [2][3] Company Actions - AstraZeneca confirmed that its expansion plans in Cambridge are currently on hold, with no further comments provided on the situation [3] - The company reassesses its investment needs regularly, indicating a strategic approach to its funding decisions [3] Industry Context - The retreat of AstraZeneca and Merck from the UK market reflects broader concerns regarding the business climate for pharmaceutical companies in the region [2][3] - The pause in investment from major players like AstraZeneca may impact the growth of the life sciences sector in the UK, particularly in Cambridge, which is a key hub [1][3]