AstraZeneca's proposed £450 million expansion of its vaccine facility in Speke, Liverpool was canceled due to the UK government's failure to secure a critical £90 million funding contribution by a set deadline. Shaun Grady, the company's UK chairman, emphasized that delays in negotiations, particularly during the general election, hampered timely decisions. Despite previous assurances from the government, the final offer came too late to adjust the project's business case adequately, impacting AstraZeneca's research and development plans, particularly for the flu season.
AstraZeneca's chairman Shaun Grady confirmed that delays in securing a £90 million government contribution led to the collapse of the project.
'We had made very clear to government that we needed confirmation of the availability of the grant and the amount by August, because that was our deadline to commence the R&D,' Grady explained.
By the time an offer of £75 million was made in October, it was too late. 'That didn't then support the revised business case with the new timelines sufficiently,' he said.
Discussions were put on hold during the general election period. After Labour formed a new government in the summer, negotiations resumed, but a final decision was not reached in time.
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