Medical products and technology firm Convatec has unveiled plans for a new research and development operation in Manchester as part of a £500m of investment in the 海角视频 over the next decade. However, the investment will see around 150 staff being transferred out of its existing operation in north Wales.
The FTSE 100 listed firm said the investment will see it open the new “flagship” Manchester hub in 2027. The new site is set to be one of the largest in its global network of technology and innovation centres, according to the group.
It comes as a welcome boost for Britain’s life sciences sector amid a shift to the US to offset US President Donald Trump’s trade tariffs.
Drugs giant GSK recently revealed plans to put nearly £22bn into US R&D and manufacturing over the next five years.
US-based drugmaker Merck also said its 海角视频 operation would scrap plans for a £1bn site in London’s Kings Cross, which had been due to open in 2027 and just days later, AstraZeneca announced it had paused plans to invest £200m at a Cambridge research site.
Convatec said around 200 staff would be employed at the new site, who will largely transfer from the firm’s existing R&D site in Deeside, Flintshire, but the firm said there were “plans for further growth in the years ahead”.
It said its Deeside R&D site had “served as a major centre for R&D” since opening in 1996, but that Manchester was now seen as the “ideal location” for the expanded facility, “given its vibrant life sciences ecosystem, which includes leading universities, hospitals, and research institutions”.
The group confirmed its manufacturing operation in Deeside would remain a “cornerstone of its global operations” and is unaffected by the changes, with around 400 workers continuing to be employed at the site following the opening of the new R&D centre.
Most Read
Convatec said the wider group plans included investing £445m in America over the next 10 years and expansion of its R&D site in Boston by the end of this year.
It comes after a review of its global growth ambitions, Convatec said.
Jonny Mason, interim chief executive at Convatec, said: “Our plans to invest more than one billion dollars - anchored by major expansion plans in both the United States and the United Kingdom - demonstrates our unwavering commitment to advancing healthcare innovation for people living with chronic conditions around the world.”
Science and Technology Secretary Liz Kendall said: “This landmark investment is proof of how, when the 海角视频 and US work closely together to unlock the latest medical breakthroughs, both our countries stand to benefit hugely.
“This is a deal that will create jobs, unlock growth, and improve life for patients from Manchester to Massachusetts - and comes hot on the heels of billions of pounds worth of investments into the 海角视频 from top US firms in life sciences and beyond.