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UK announces pharma investment, aims to boost productivity

UK announces pharma investment, aims to boost productivity

LONDON: Britain has announced a major investment by US drug-maker Merck, as the UK government unveils plans to boost productivity after Brexit.

The government says Merck, known internationally as MSD, will open a research hub, creating 950 jobs.

The government is touting the announcement as economic good news after the UK’s budget watchdog sharply downgraded growth forecasts for the coming years amid uncertainty over the economic impact of Britain’s exit from the European Union.

One nagging economic worry is productivity, which lags behind other major European economies such as Germany and France.

Britain’s Conservative government on Monday announced plans to invest 735 million pounds ($970 million) in areas including artificial intelligence, driverless cars, and the life sciences, “with the aim of making the UK the world’s most innovative nation by 2030.”

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Ruby Khatun

Ruby Khatun

Ruby Khatun joined Medical Dialogue as Reporter in 2016. She covers all the business news in different categories. She also covers all the updates in Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a post graduate from Jamia Hamdard. She can be contacted at Contact no. 011-43720751

Source: AP
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