20th Jul 2026 11:28
(Alliance News) - Medical products maker Convatec PLC is seeking up to GBP40 million in UK government support for its planned research and development hub in Manchester, arguing rival locations in Europe and North America offer lower costs, The Times reported on Sunday.
Chief Executive Jonny Mason told the newspaper the FTSE 100 firm is in talks with the Office for Life Sciences over grants of between GBP20 million and GBP40 million to help fund laboratory expansion and new equipment for the site.
Convatec announced in October plans to invest GBP500 million in the UK over the next decade, including a new Manchester R&D hub due to open in 2027.
Mason told The Times the company is considering five alternative international locations and that the level of government support will influence where activities are based.
"The government would admit that whilst they have the right ideas and intentions they don't move at the pace that business moves. So, it is a bit slow," Mason told The Times.
He added that greater financial support could allow Convatec to employ around 300 people at the Manchester site, compared with around 100 otherwise.
Convatec shares were up 1.7% at 220.40 pence in London on Monday morning.
By Eva Castanedo, Alliance News senior economics reporter
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