Major investment to fund Convatec’s new ‘flagship’ hub

MEDICAL products and technology firm Convatec has unveiled plans for a new research and development operation in Manchester as part of a £500m of investment in the UK over the next decade, although it will see around 150 staff being transferred out of its existing operation in north Wales.

- HOLLY WILLIAMS PA business editor

The FTSE 100 listed firm said the investment will see it open the new “flagship” Manchester hub in 2027. The new site is set to be one of the largest in its global network of technology and innovation centres, according to the group.

It comes as a welcome boost for Britain's life sciences sector amid a shift to the US to offset US President Donald Trump's trade tariffs.

Drugs giant GSK recently revealed plans to put nearly £22bn into US R&D and manufacturing over the next five years.

US-based drugmaker Merck also said its UK operation would scrap plans for a £1bn site in London’s Kings Cross, which had been due to open in 2027 and, just days later, AstraZeneca announced it had paused plans to invest £200m at a Cambridge research site.