Merck & Co (also known as MSD outside the US) has decided to cancel its plans for a \u00a31 billion research and development (R&D) center in London. The company will also stop all drug discovery and research activities in the UK by the end of this year. This news comes less than two years after construction began on the King\u2019s Cross R&D hub, which was supposed to become the company\u2019s UK headquarters. As part of these changes, 125 scientists working at the London Bioscience Innovation Centre (LBIC) and the Francis Crick Institute will lose their jobs. A spokesperson from MSD explained that these decisions are part of a global cost-cutting plan to save $3 billion by 2027. The company\u2019s performance in the first half of 2025 was weaker than expected, leading to these changes. MSD also mentioned that the UK\u2019s lack of investment in life sciences and the government\u2019s undervaluation of new medicines and vaccines played a role in their decision. This is not the first time a major pharmaceutical company has expressed frustration with the UK. Last year, AstraZeneca, the UK\u2019s largest company by market value, also abandoned plans for a $450 million vaccine factory in Liverpool after the government did not provide enough funding. AstraZeneca\u2019s CEO has even considered moving the company\u2019s stock listing to the US. The broader pharmaceutical industry is also concerned about the UK\u2019s life sciences sector. A report from the Association of the British Pharmaceutical Industry (ABPI) found that foreign investment in the UK fell by 58% between 2021 and 2023. This decline comes as the UK government and drug companies remain in a disagreement over drug pricing. The Health Secretary has refused to accept higher drug prices, while pharmaceutical companies warn that without a fair deal, they may not bring new medicines to the UK, which could harm patients.<\/p>\n","protected":false},"excerpt":{"rendered":"
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