With additional investment in its production facility, Accord Healthcare is poised to play a vital role in addressing medicine shortages in the UK

Accord Healthcare is set to expand its manufacturing and production capabilities for high-quality medicines at its Fawdon plant in Newcastle upon Tyne, England, following a new multi-million-pound investment deal with the government.

Chancellor of the Exchequer Rachel Reeves launched the new Life Sciences Innovative Manufacturing Fund (LSIMF) and announced the unlocking of a joint £50 million investment deal during her visit to the Fawdon plant on 1 November.

Unveiled as part of a new budget, the LSIMF will distribute up to £ 520 million in capital grants aimed at drug and medical technology production.

Accord stated that it will allocate the funding towards developing new product lines, including a novel prostate cancer drug and two autoimmune injectables for treating rheumatoid arthritis and gastroenterology indications, as well as expanding its medicines for adjunctive therapy in cancer.

With this investment, Accord also plans to create over 50 new skilled jobs to “safeguard the facility’s long-term future.”