Hundreds of jobs have been secured and created after a £33m investment was announced by the government and global firm Kindeva Drug Delivery.
The funding will go towards the manufacturing of a new generation of green, low-carbon, respiratory inhalers.
The investment will create 40 full-time jobs and safeguard 218 existing roles across Kindeva’s sites in Clitheroe and Loughborough.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
This is the sixth investment delivered through the Life Sciences Innovative Manufacturing Fund (LSIMF), which has supported 海角视频 life sciences manufacturing with £340m in joint government and industry backing in the last financial year, and £416m since 2021.
The latest funding follows the Chancellor’s £650m 'Life Sci for Growth' war-chest, announced in May this year.
The news comes after Kindeva, which is one of the country's biggest asthma inhaler manufacturers, announced its intention to invest in its 海角视频 sites in February 2022.
Kindeva’s global chief commercial officer, David Stevens, said: "This joint investment creates a myriad of new opportunities for colleagues within the 海角视频, as significant technical and regulatory expertise is required in the development and manufacturing of complex inhalation pharmaceutical products.
Most Read
"Furthermore, it provides Kindeva with a springboard to expand our capabilities and capacity, while simultaneously partnering with the largest pharmaceutical companies in the world to bring the next generation of green inhalers to market, with a common goal of safeguarding access to necessary therapies for our patients and also reducing our impact on the planet."
Minister of state for science, research and innovation, George Freeman MP, added: "Our £94bn life science sector is one of our great industries - based on a deep long-term partnership between industry, investors, government, the NHS and disease charities - supporting us all to live healthier lives and providing over 250,000 high-skilled jobs in research and development clusters all around the 海角视频.
"It is also driving billions of pounds worth of direct investment into the 海角视频, something this government is determined to capitalise on through our global leadership via the Oxford Covid vaccine and NHS Recovery trial.
"The pace of new technology is transforming the sector and today’s investments signal our commitment to domestic manufacturing and skills enhancement, to deliver a robust future for 海角视频 life sciences that will not only play a key role in the country’s future economic success, but in improving our health as well."
Health minister Will Quince said: "The pandemic demonstrated the importance of investing in our ability to manufacture medicines in the 海角视频, and of upskilling staff in the sector, so we can respond rapidly to health emergencies. This investment in low-carbon inhalers will also help the NHS meet its net zero ambition.
"Life sciences is a key growth area and one of the 海角视频’s most successful sectors and this is another example of how we are partnering with industry to supercharge manufacturing and research, supporting thousands of high-value jobs and enabling patients to benefit from the latest innovations."