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Business Live with Ian King: AstraZeneca plans £650 million investment in the UK

In a bold move that signals confidence in the UK economy post-Brexit, pharmaceutical giant AstraZeneca has announced plans to invest £650 million in the country. The investment is part of a broader strategy to expand the company’s research and development capabilities in the UK, with a focus on emerging technologies and new drug therapies.

The announcement was made on the popular business news program ‘Business Live with Ian King’, where AstraZeneca’s CEO, Pascal Soriot, outlined the company’s plans for the future. The investment will be spread across several of AstraZeneca’s UK sites, including its research and development facility in Cambridge.

Soriot highlighted the UK’s world-class research and development capabilities as a key factor in the decision to invest in the country. He noted that the UK has a strong track record in developing new drug therapies and that AstraZeneca is committed to building on this legacy.

The investment will also create hundreds of new jobs in the UK, providing a much-needed boost to the economy in the wake of the COVID-19 pandemic. Soriot emphasized the company’s commitment to supporting the UK’s life sciences sector and contributing to the country’s economic recovery.

The news of AstraZeneca’s investment comes at a time of uncertainty for many businesses in the UK, as they navigate the challenges of Brexit and the ongoing impact of the pandemic. The announcement is a welcome vote of confidence in the UK economy and a sign that the country remains an attractive destination for businesses looking to invest and grow.

Ian King, host of ‘Business Live’, praised AstraZeneca’s decision to invest in the UK, noting that it demonstrates the company’s commitment to innovation and to supporting the UK’s life sciences sector. He highlighted the importance of such investments in driving economic growth and creating new opportunities for the country’s workforce.

Overall, AstraZeneca’s £650 million investment in the UK is a positive development that bodes well for the country’s economic future. It is a testament to the UK’s strengths in research and development and a clear signal that the country remains a competitive and attractive destination for businesses looking to invest and expand. As the UK seeks to build back better from the challenges of recent years, investments like this will be crucial in driving economic growth and supporting job creation.