AstraZeneca's UK Vaccine Research Investment Paused Amid Government Talks

AstraZeneca has paused its planned £450 million investment in the UK for vaccine R&D as it continues discussions with the government about potential incentives. The company's CFO, Aradhana Sarin, provided this update during a media briefing following their third-quarter results announcement.

AstraZeneca has temporarily halted its planned £450 million investment in the United Kingdom for vaccine research and development. The pause comes as the pharmaceutical giant engages in ongoing discussions with the UK government over potential incentives that could influence the investment's finalization.

During a recent media briefing, AstraZeneca's Chief Financial Officer, Aradhana Sarin, stated that the company is still negotiating with the government. "We're still in discussions with the government to figure out what type of incentives there may be. We don't have anything new to report at this time," Sarin said.

The announcement of this investment was initially made in March, aiming to bolster AstraZeneca's capacities in vaccine research. However, the current exchange rate of $1 equals 0.7802 pounds underlines the significance of these negotiations on financial terms.

(With inputs from agencies.)