Street Calls of the Week
Investing.com -- AstraZeneca has paused a planned £200 million ($271.26 million) investment in its Cambridge research site, a company spokesperson confirmed on Friday, according to Reuters.
The decision affects an expansion that would have created 1,000 jobs and means none of the pharmaceutical giant’s new funding announced in March 2024 is currently moving forward.
This marks the second major investment retreat by AstraZeneca this year. In January, the company abandoned plans to invest £450 million in its vaccine manufacturing plant in northern England, citing reduced British government support.
AstraZeneca, which has the largest market capitalization on the FTSE 100, operates one of Britain’s leading life sciences hubs in Cambridge.
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