Pharmaceutical giant Merck has scrapped plans for a £1 billion research centre in London’s King’s Cross, citing a lack of competitiveness in the UK.
The decision means around 125 planned scientific and support roles will no longer materialise, although Merck will retain approximately 1,600 UK staff in regulatory and business development functions.
The withdrawal is seen as a major setback for Britain’s ambitions to cement itself as a global leader in life sciences. Industry figures are warning that unless the government improves conditions for investment, more companies could follow suit.
