AstraZeneca chief executive hails ‘vital importance of US’ as Trump tariffs loom
AstraZeneca’s chief executive has hailed the “vital importance of the US” to the British drugmaker, days after announcing a $50bn (£37bn) investment in the country at a time when Donald Trump’s threatened tariffs are looming over the sector.Pascal Soriot, who leads Britain’s most valuable company, refused to comment, however, on recent media reports that AstraZeneca is considering moving its main stock market listing from the UK to the US.Soriot told reporters on Tuesday he had met a large number of members of Trump’s administration, including the commerce secretary, Howard Lutnick.He said AstraZeneca, which is headquartered in Cambridge, had discussed with officials “how we can contribute as a company to the pharmaceutical sector in the US, also how we can invest and how we can actually help deliver medicines to patients in America that are made in America”.Asked by reporters whether AstraZeneca had requested any commitments from the US administration in return for its $50bn investment, the largest manufacturing investment in the company’s history, Soriot said it had not.
The investment will fund a new drug manufacturing facility in Virginia and an expansion in its research and development R&D capabilities.The company wanted to contribute to how the Trump White House was “driving growth across the economy”, he said.“I definitely love America,” he told reporters from New York as he presented the company’s results for the first half of the year.“I’ve always believed in the great future of America.”AstraZeneca, which has 12 manufacturing sites and two global strategic R&D centres in the US, aims to achieve revenue of $80bn by 2030, of which half will be generated in the US.
Soriot praised the US repeatedly for spending 0.8% of gross domestic product (GDP) on pharmaceutical innovation, and called on Europe and the UK to increase current spending levels, which represent 0.3% of GDP.“If a country wants to attract investment and attract a life sciences sector that is flourishing, they certainly need to look at increasing this allocation of GDP to pharmaceutical innovation, and it will benefit patients who will get access faster to medicines they need,” Soriot said.“Access in Europe is very, very slow and very difficult for sometimes life-changing medicines.
”The call for increased spending on pharmaceutical innovations comes months after AstraZeneca cancelled plans for a £450m expansion of its vaccine plant on Merseyside, and as the government is looking to demonstrate its commitment to life sciences,Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionSoriot said AstraZeneca was not expecting to be affected by potential tariffs for the pharmaceutical sector, after Trump threatened to impose tariffs of up to 200% on drugs made outside the US,The European pharmaceutical industry, meanwhile, has criticised the US levy of 15% tariffs on medicines imported from the EU under the terms of a deal struck between Washington and Brussels,AstraZeneca said it was “almost self-sufficient in terms of supply” in the US, and was “rapidly transferring the supply” of those products made outside the US to domestic sites,“Within a few months, we will be completely self-sufficient in supplying US patients out of the US for all our products,” Soriot said.
Idaho’s Matteo Jorgenson gave it all for a Tour de France he could never win – and triumphed anyway
Tadej Pogačar’s victory looked certain as he flew up Butte Montmartre for the second of three times on the Tour de France’s final stage. His lead in the race’s general classification (GC) stood at four minutes and 27 seconds over Jonas Vingegaard, more than 10 minutes clear of everybody else, and GC times had been frozen for the final stage. He had won four stages already; that he hadn’t won at least six seemed more his choice than anybody else’s. There was no need to be at the front here, to add a fifth cherry atop the ice cream, but Pogačar’s unquenchable competitive spirit demanded an attempt. He stamped on his pedals on the cobblestoned hill, scything riders off the back of the bunch
Amber Anning: ‘Gold is always the goal. Get to the final and then whatever happens, happens’
After the sorrow of 2021, the world indoor 400m champion is determined to finally take her chance to race in Toyko “That was quite tough to take,” says Amber Anning, thinking back to the selection process for the Tokyo Olympics in 2021. She finished eighth – “dead last” – in the 400m at the British championships and was the only woman in the relay pool not to go to the Games. “But Tokyo’s always been on my list, even outside of track. The blossom trees are something I’ve always wanted to go see.”For this weekend’s British trials in Birmingham, where spots for September’s world championships in the Japanese capital are up for grabs, Anning is the favourite and defending champion, not to mention the world indoor title holder
Blair Kinghorn and James Ryan to start in final Lions Test against Australia
Blair Kinghorn and James Ryan have been named to start for the British & Irish Lions in their third Test against the Wallabies in Sydney on Saturday as Andy Farrell’s side seek to wrap up a series whitewash.Kinghorn is selected on the left wing with James Lowe dropping out of the 23 while Ryan replaces Ollie Chessum, who has been named on the bench. Kinghorn impressed as a replacement in the last-gasp victory in Melbourne last week and though he is a fullback by trade, he often appears on the wing for Toulouse.Ryan also caught the eye off the bench at the MCG and comes into the starting XV alongside Maro Itoje, who continues as captain. Ryan is one of nine Ireland players selected along with Tadhg Furlong who will equal Alun Wyn Jones in starting nine consecutive Tests for the Lions
Nic White called on to inspire Australia for third Lions Test in Sydney
The Wallabies will take inspiration from retiring scrum-half Nic White as they seek to avoid a series whitewash in the third Test against the British & Irish Lions in Sydney on Saturday.The veteran announced on Thursday he would retire from international rugby after Saturday’s Test and coach Joe Schmidt has handed him the No 9 jersey for his 73rd Wallabies cap in a nod to his long contribution to Australian rugby.White said it was the right time to “pass on the baton” to players like Jake Gordon and Tate McDermott, who have played ahead of him in the first two Tests.“Pulling on the gold jersey was a dream of mine when I was a young boy in Scone and to say I’ve done it 72 times, with one last crack on Saturday night, is something I’m incredibly proud of and a privilege I’ve never taken for granted,” White said.“Rugby has given me so much to be grateful for
‘King’ Kyle Chalmers out to reassert dominance over princeling upstarts at swimming worlds | Kieran Pender
It is rare to find such a decorated athlete – one with a regal moniker, no less – who still thrives on being the underdog. Australia’s Kyle Chalmers, “King Kyle”, has won just about everything there is to win in international swimming. Yet year after year he returns, somehow still the underdog, somehow ready to spring another upset.In recent days, at the 2025 World Aquatics Championships in Singapore, it has been more of the same. On Sunday, Chalmers anchored Australia’s relay team to an unexpected gold in the men’s 4×100m freestyle relay
Approach to AFLW’s 10th season suggests some remain unconvinced of its value | Jack Snape
Football will return to Victorian free-to-air television on Saturdays to mark the start of the AFLW season, but the first three rounds will be split across Channel Seven’s main and secondary channels in a sign the broadcaster is not fully convinced of the competition’s ability to draw ratings.The AFL has faced criticism this season for its new broadcast deal which has given Saturday’s men’s matches exclusively to Foxtel in Victoria, in an attempt to increase Thursday night coverage on Seven.While Seven is still finalising its AFLW programming, only the season-opening Thursday night double-header of Carlton v Collingwood followed by West Coast v Gold Coast, as well as Sunday afternoon slots, are set be shown to Victorians on Seven’s main channel over the first three rounds.The qualified support for the women’s code from Seven comes as AFL head office seeks to accelerate growth in a competition entering its tenth season, and address negative perceptions about the AFLW.On Tuesday, the AFL chief executive, Andrew Dillon, rejected the language used in a story in the Age earlier this month which claimed the AFL told clubs at a CEOs’ meeting that the AFLW was “losing $50m” each year
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