AstraZeneca ploughs another £1.5bn into America after shelving two major UK projects
AstraZeneca has announced another £1.5billion of investment in Donald Trump’s America – having shelved two major projects in the UK earlier this year.The pharmaceutical giant – the biggest company on the FTSE 100, valued at £215billion – is expanding its manufacturing base in Maryland.The investment will support 2,600 jobs at its biologics manufacturing plant in Frederick and a new state-of-the-art facility in Gaithersburg as well as creating 300 roles.The announcement underlines AstraZeneca’s commitment to the US amid mounting fears over a lack of investment in the UK.In September, it put plans to invest £200million at a research site in Cambridge on hold, after already ditching a £450million expansion of a vaccine plant in Liverpool in January.Boss Pascal Soriot previously warned the UK is becoming uncompetitive – and it is feared Rachel Reeves will make things worse in her Budget tomorrow. US drive: AstraZeneca is expanding its manufacturing base in America amid mounting fears over a lack of investment in the UKDIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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AstraZeneca ploughs another £1.5bn into America after shelving two major UK projects
