INSUBCONTINENT EXCLUSIVE:
We are in positive discussions with AstraZeneca to support the delivery of this planned investment in Speke: UK Treasury2 min read Last
Updated Aug 23 2024 | 7:17 AM IST
AstraZeneca has warned it could relocate its vaccine manufacturing site from the UK to the United States
amid a deadlock with the new Labour government over plans to cut state aid, the Financial Times reported on Thursday.
British finance
minister Rachel Reeves wants to reduce state provisions to the vaccine centre, which will cut the pledge made by the previous administration
from about 90 million pounds to 40 million pounds, the report said, citing sources.
The previous offer included up to 70 million in grants
to develop a facility in Speke, Liverpool and 20 million pounds in research and development support from the UK Health Security Agency, per
FT.
Manufacturing could take place in India, where the company has produced vaccines in the past, people briefed on the discussions told
the newspaper.
An AztraZeneca spokesperson said there are no discussions in the US or India as the company is committed to pursuing the
opportunity at Speke and are in constructive talks with the UK government.
"We are in positive discussions with AstraZeneca to support the
delivery of this planned investment in Speke," a UK Treasury spokesperson said.
The Sunak administration in March planned to invest 650
picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated
feed.)First Published: Aug 23 2024 | 7:17 AMIST
