Life Sciences Daily Summary
Life Sciences Daily Summary: What Happened on October 29, 2026
UK budget sets out £1 billion biopharma investment package
BioSpace counted 4,062 employees affected by manufacturing cuts at 10 biopharma companies through October 28.
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Today in brief
The UK budget sets aside £1 billion for biopharma investment.1 BioSpace counted 4,062 employees affected by manufacturing-site cuts across 10 companies, completed or projected through October 28.2
Manufacturing cuts affect 4,062 jobs across 10 biopharma companies
BioSpace counted 4,062 employees affected by completed or planned manufacturing-site cuts at 10 biopharma companies through October 28.2 BioNTech accounts for the largest projected share, with 1,860 positions affected by planned site exits.2
BioNTech plans to close its Idar-Oberstein and Marburg facilities by the end of 2027, and its Singapore site in the first quarter of 2027.2 It also plans to exit CureVac sites in Germany and elsewhere by the end of 2027, following its all-stock acquisition of CureVac last year.2
Five of the 10 companies had announced manufacturing investments of at least $1 billion in the prior three years.2 Industry consultant Caitlin Prendes said companies can reduce staff at older facilities while investing in new domestic sites, including before those sites hire workers.2 Eric Langer said manufacturing layoffs could continue in 2027 as companies focus more on productivity and costs.2