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The Minister of State, Department for Science, Innovation and Technology (Lord Vallance of Balham) (Lab)

Speaking in the House of Lords on 6 February 2025

Debate

AstraZeneca

Contribution

Clearly, I understand this area rather well. It is disappointing that the AstraZeneca deal fell through. The deal was first raised in 2020 and was then offered in 2024. Subsequent to that, AstraZeneca changed its mind on how much work it wanted to put into the UK, including reducing the R&D component, which meant that there was a reduction in the offer that came from the Government. I understand that there are a number of reasons why this particular deal fell through, but I also reassure noble Lords that there is a very active programme of attracting investment, including discussions with AstraZeneca which are ongoing on other matters.

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