It also comes on the same day that the United Kingdom government is due to publish a white paper on industrial strategy in a post-Brexit economy, with the aim of tackling a range of issues such as the country's stagnant productivity, the lop-sidedness of the country's economy in favour of London and the southeast (not addressed in MSD's case) and improve workforce skills.
"A new United Kingdom location will enable us to build on our proud legacy of invention and be an important contributor to the vibrant and rapidly growing United Kingdom life sciences community, while providing access for more collaborations within the European life science ecosystem".
Following on from an increase in research funding outlined in the budget, the White Paper reaffirms the government's commitment to reach "2.4 per cent of GDP [gross domestic product] investment in R&D by 2027 and to reach 3 per cent of GDP in the longer term, placing us in the top quartile of OECD [Organisation for Economic Cooperation and Development] countries".
Babs Murphy, chief executive of the North and Western Lancashire Chamber of Commerce said: "We have been working with the government to develop the Industrial Strategy, and we are pleased that the concerns and ideas of business communities across the country have been listened to".
"Of course, in common with many others we would have liked to see more detail, but it is reassuring to see the commitment to cover this in more depth in the forthcoming 25-year environment plan and the resource and waste management strategy reinforced".
Prime Minister Theresa May said: "Our modern Industrial Strategy will shape a stronger and fairer economy for decades to come".More news: Putin signs bill requiring media to register as 'foreign agents'
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Robotics and data technology, "clean growth", pharmaceuticals and medical services and autonomous mobility will be the four pillars of Britain's future industry, according to the Business Department's White Paper, 'Building a Britain Fit for the Future'.
The Business Secretary has today announced the plan for UK's Industrial Strategy with a focus on harnessing technological opportunity.
The focus on Place as another of the five foundations is also an element CIWM called for in its response to the Green Paper. 'Work will continue with other sectors on transformative sector deals, ' said the white paper. "We have a thriving research and science base and are home to a wide range of innovative sectors, from advanced manufacturing and life sciences, to fintech and creative industries", he said.
The section of the Industrial Strategy linked to the circular economy and the waste and resources strategy due out in 2018 look to be aligning with the European Commission's circular economy proposals which are nearing completion.
'The move to cleaner economic growth - through low carbon technologies and the efficient use of resources", it says "is one of the greatest industrial opportunities of our time. This will support the development of new markets for waste materials and improve the efficiency of enforcement, creating a level playing field for the waste and resources sector'. It will help create the conditions where successful businesses can emerge and grow, and support these businesses in seizing the big opportunities of our time, such as artificial intelligence and big data, whilst also making sure our young people have the skills to take on the high-paid, high-skilled jobs this creates.
Artificial intelligence - "we will put the United Kingdom at the forefront of the artificial intelligence and data revolution".