AstraZeneca CEO says pharma giant chose Ireland over UK because of tax rates and green energy

Pascal Soriot said drugmaker initially wanted to make a $360 million investment in the UK but that the country’s tax rate was “discouraging”

CEO AstraZeneca Pascal Soriot and Prince Charles, Prince Of Wales unveil a plaque to mark the official opening of the AstraZeneca global Research and Development facility at the Cambridge Biomedical Campus in November 2021.

AstraZeneca Plc said it chose Ireland for a new manufacturing facility instead of the UK because of punitive tax rates, raising fresh fears over Britain’s attractiveness to Big Pharma.

The drugmaker initially wanted to make the $360 million investment in the UK, but “the tax rate was discouraging,” Chief Executive Officer Pascal Soriot said in a briefing with journalists. “You need an environment that gives you good returns and incentive to invest.”

Soriot also pointed ...