AstraZeneca's U.K. Vaccine Facility at Risk Due to Government Aid Cuts, FT Reports

--AstraZeneca's planned 450 million British pound investment in a vaccine-manufacturing site in Speke, Merseyside could be at risk due to potential reduction of over 20 million pounds in U.K. treasury funding for the project, the Financial Times reported, citing unnamed sources.

--The British government sought to reduce the aid it would offer to develop the Anglo-Swedish pharma giant's nasal flu vaccine facility to 40 million pounds versus a verbal offer of 65 million pounds given by the previous administration, according to the FT.

--AstraZeneca declined to comment when contacted by Dow Jones Newswires. The Treasury confirmed that it was in ongoing talks with AstraZeneca. "The chancellor receives regular updates on this planned investment in Speke, and we are in positive discussions with AstraZeneca to support its delivery," a spokesperson said.

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Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

August 14, 2024 08:44 ET (12:44 GMT)

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