Tough Tax Led to Britain Losing £320 million Vaccine Factory: Pharma Chief

AstraZeneca CEO says company chose Ireland for its new facility because of low tax and green commitments

Pascal Soriot, executive director and CEO of AstraZeneca, testifies to Congress in Washington on Feb. 26, 2019. Win McNamee/Getty Images

Britain’s tough tax rates led to it losing out on a £320 million new COVID-19 vaccine facility, AstraZeneca’s chief has said.

Pascal Soriot said his drugs group chose Ireland as the base for its new state-of-the-art factory owing to the Republic’s low tax laws and commitment to green energy.