AstraZeneca has dropped its plans to £450m at its vaccine manufacturing plant in Speke, Merseyside, blaming a reduction in government support.
The move will be seen as a major blow to the government, coming at a time when it is pushing hard to secure investment in the UK to drive economic growth.
An AstraZeneca spokesperson said: “Following discussions with the current government, we are no longer pursuing our planned investment at Speke.
“Several factors have influenced this decision including the timing and reduction of the final offer compared to the previous governments proposal.”
The site will continue to produce and supply our flu vaccine, for patients in the UK and around the world the company said.
AstraZeneca has previously said the investment plan had been paused as it sought increased government funding.
The Financial Times reported in August 2024 that AstraZeneca had warned it could relocate its vaccine manufacturing site from the UK to the US as talks with the government over state aid had become deadlocked.
The newspaper said British finance minister Rachel Reeves wanted to reduce state provisions to the company’s vaccine centre, which would cut the pledge made by the previous administration from about £90m to £40m.
The previous government’s offer included up to £70m in grants to develop the facility in Speke, the FT report said.
The Treasury and the Department of Business and Trade have been approached for comment.
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