Chancellor Jeremy Hunt announced that British pharma giant AstraZeneca PLC (LSE:AZN) plans to invest £650 million in UK life sciences.
Under levelling-up plans, AstraZeneca will develop a vaccine manufacturing facility in Liverpool alongside the expansion of an existing site in Cambridge.
The announcement came during Hunt's Spring Budget, where he also announced a £5,000 increase in ISA allowances through a ‘Great British ISA’ restricted to UK-listed stocks only.
This brings the yearly tax-free allowance for ISA customers up to £25,000 per year.
AstraZeneca’s share price was unbudged at 10,034p following the announcement.