Moderna, Inc. (MRNA) saw its shares plunge 5.12% in intraday trading on Thursday, despite the company's announcement of a significant expansion in the United Kingdom. The sharp decline comes as the biotechnology firm unveiled its new manufacturing and research facility in Oxfordshire, raising questions about investor sentiment towards the pharmaceutical industry's future in the UK.

The newly opened Moderna Innovation and Technology Center (MITC) at the Harwell Science and Innovation Campus marks a milestone as the UK's first facility to manufacture an onshore supply of mRNA vaccines. With an annual production capacity of up to 100 million vaccine doses, expandable to 250 million in case of a pandemic, the site represents a key component of Moderna's £1 billion, 10-year strategic partnership with the UK government. However, the positive news of expansion and investment failed to buoy the stock.

The market's negative reaction appears to stem from broader industry concerns rather than Moderna's individual expansion. Recent criticisms of UK drug pricing policies by other pharmaceutical giants, including Merck & Co. Inc.'s cancellation of a planned $1.36 billion London research center, have cast a shadow over the sector. While Moderna's UK chief, Darius Hughes, defended Britain's stance, stating, "We're here to invest," investors seem to be pricing in potential challenges facing the pharmaceutical industry in the UK. This sentiment overshadowed the company's commitment to the region, resulting in the significant stock decline despite the opening of the new facility.