UK and US agree to zero tariff deal on pharmaceuticals Business The government has agreed to a major deal with Washington that will see the UK become the only country to secure zero import tariffs on pharmaceutical products into the US for at least three years. The deal follows months of negotiations between the government and the Trump administration, after the June trade deal left the [...]
Astrazeneca injects $2bn to boost US manufacturing capabilities pharma FTSE 100 giant Astrazeneca plans to invest $2bn into growing its manufacturing footprint in Maryland, as part of its efforts to boost its US capabilities and presence. The investment will support the “significant expansion” of its biologics manufacturing facility in Frederick, doubling its capacity and increasing its medicine supply, as well as the construction of [...]
GSK shares jump as profit upgrade defies tariff gloom pharma Shares in GSK climbed as much as three per cent to 1,705p on Wednesday morning as the pharma giant defied tariff fears with an upgrade to its profit guidance. The London-based business said it now expects turnover to increase by six to seven per cent for the full year 2025, up from its previous guidance [...]
GSK shares rally as chief Emma Walmsley to exit after eight years September 29, 2025 The chief executive of pharmaceutical giant GSK has announced plans to step down from the company at the end of the year. Emma Walmsley, who took the helm of the drugmaker in 2017, will be replaced by chief commercial officer Luke Miels. Miels – the former Executive Vice President of Astrazeneca – also joined the [...]
Trump slaps 100 per cent tariff on imported drugs September 26, 2025 US President Donald Trump announced a new round of tariffs on Thursday evening, with the pharmaceutical industry expected to be the hardest hit. Trump revealed that the US will impose a 100 per cent tariff on imported branded drugs, a 25 per cent tariff on all heavy-duty truck imports, a 50 per cent tariff on [...]
Mounjaro sales help almost double Ely Lilly’s UK turnover September 18, 2025 The sale of weight loss drug Mounjaro has boosted the UK turnover of pharmaceuticals giant Eli Lilly by 90 per cent during its latest financial year, it has been revealed. The division of the US group has posted a turnover of £889m for 2024, according to new accounts filed with Companies House. The new total [...]
GSK plots $30bn investment into US in latest blow to UK’s pharma sector September 17, 2025 GSK has unveiled a new plan to spend $30bn (£22bn) on research and manufacturing facilities in the US. The London-based business said the capital would be deployed over the next five years and would create hundreds of high-skilled American jobs in areas such as AI and advanced digital technologies. The investment of £4.4bn per year [...]
Merck warns UK is ‘not internationally competitive’ as it scraps £1bn London research centre September 10, 2025 Merck has pulled out of a planned £1bn London drug research centre in the latest blow to the government’s growth agenda. The US pharma giant is to lay off 127 staff alongside abandoning the construction project, which had been set to open in King’s Cross in 2027. The firm warned the UK would lag behind [...]
Global markets take a tumble as Trump pushes on with his trade war August 1, 2025 Global stocks weakened on Friday morning after US President Donald Trump hit multiple countries with a blitz of tariffs. Trump’s ambition to restructure the global trading order in his administration’s favour has sent jitters through markets on his set negotiation deadline day. The FTSE 100 is down 0.7 per cent, with UK drug maker Astrazeneca [...]
Astrazeneca plots huge $50bn US investment after ditching UK expansion plans July 22, 2025 Astrazeneca has unveiled plans to invest as much as $50bn in manufacturing and R&D in the US after ditching its UK expansion plans in a blow to the government’s industrial strategy. The Cambridge-based pharma giant said it will spend the huge sum over the next five years, including on a new manufacturing facility in Virginia, [...]