ConvaTec to Spend GBP500 Million on New Global R&D Hub in Manchester, England, Over Next Decade

10:53 AM EDT, 10/28/2026 (MT Newswires) -- ConvaTec Group (CTEC.L) will invest 500 million pounds sterling in the next 10 years to establish a global research and development hub in Manchester, England, according to Chancellor of the Exchequer John Healey's budget statement on Wednesday. The medical products and technology company's investment is part of the UK government's 1 billion-pound 2026 budget for the local life sciences sector. The government said it will provide 70 million pounds in grant funding, while Vertex Pharmaceuticals (VX1.F) will invest 300 million pounds and Kindeva will spend 200 million pounds for additional facilities in Oxford and Loughborough, respectively.