Almac to share in multi-million pound UK government support package to boost its manufacturing capability

​Northern Ireland pharmaceutical company Almac is to receive UK government cash as it expands its manufacturing plant.
By The Newsroom
Published 3rd Mar 2024, 22:30 GMT
Almac is to share a £7.5m support package with a firm in WalesAlmac is to share a £7.5m support package with a firm in Wales
Almac is to share a £7.5m support package with a firm in Wales

The support will be announced by Chancellor Jeremy Hunt today as part of funding aimed at helping to make the UK “a world leader in manufacturing”.

The pre-Budget package, said to be worth £360 million, is for research and development (R&D) and manufacturing projects across the life sciences, automotive and aerospace sectors.

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Almac, which is based in Craigavon, produces drugs to treat diseases such as cancer, heart disease and depression.

It will share a £7.5m package with Ortho Clinical Diagnostics, in Pencoed, South Wales, which is expanding its facilities producing testing products used to identify a variety of diseases and conditions.

The government package includes £92 million joint government and industry investment to expand facilities to make life-saving medicines and diagnostics products.

There is also a £200 million joint investment in zero-carbon aircraft technology to develop a more sustainable aviation sector, and almost £73 million in automotive technology.

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Mr Hunt said: “We’re sticking with our plan by backing the industries of the future with millions of pounds of investment to make the UK a world leader in manufacturing, securing the highly skilled jobs of the future and delivering the long-term change our country needs to deliver a brighter future for Britain.”

It is hoped the funding will unlock investment from the private sector and give certainty to investors.

The investment package is part of the government’s plan to grow the economy, boost health resilience and support jobs, Mr Hunt will say today ahead of the Budget.

The funding is for several companies and projects which are making cutting-edge technology in sectors key to economic growth.

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Firms will also soon be able to apply for a share of £520 million funding for life sciences manufacturing which was announced last year.

It is designed to build resilience for future health emergencies such as influenza pandemics and capitalise on the UK’s world-leading R&D.

Related topics:AlmacJeremy HuntNorthern IrelandBudgetCraigavon