MADAM PRIME MINISTER: Margaret Thatcher (Meryl Streep) is shown here as the prime minister of Great Britain. She shepherded her country through several tempestuous periods during her tenure, namely the troubles with the Irish Republican Army and the Falkland Islands war. (Photo by Alex Bailey

Over the course of her career, Meryl Streep has landed more academy award nominations (16 and counting) than any other actor. Blessed with a great emotional range and a knack for foreign accents and regional dialects, the versatile actress has repeatedly demonstrated her uncanny ability to disappear into whatever role she’s been asked to play.

Such is the case with The Iron Lady, a comprehensive biopic about Margaret Thatcher, who served as the prime minister of Great Britain from 1979 to 1990. The movie was directed by Phyllida Lloyd who has collaborated with Streep on Mamma Mia! in 2008.

Ms. Streep will undoubtedly receive another Oscar nomination for her spot-on impersonation of Margaret Thatcher’s persona, such as her pursed lips, steely demeanor, and haughty tone of voice. She further rises to the challenge of capturing Ms. Thatcher’s descent into dementia.

Unfortunately, Streep’s sterling performance has been squandered by an overambitious screenplay by Abi Morgan which bites off more than it can chew in a less than two hour film. As a result, the movie fails to do justice to the touchstones in Thatcher’s life and career, and teases the audience with allusions instead of presenting the material in depth.

Presented as a series of flashbacks, the movie superficially presents events such as Thatcher’s coming of age during World War II, her college days at Oxford, her marriage to Denis Thatcher (Jim Broadbent), their starting a family together, her developing a feminist consciousness, and her entrance into politics. The bulk of the film’s focus is devoted to her tempestuous tenure at Number 10 Downing Street, a period marked by both domestic and international unrest such as the troubles with the Irish Republican Army and the war in the Falkland Islands.

Overall, this empathetic portrait paints the prime minister as a headstrong conservative who was dedicated to her family and to her country. But by the film’s end, we really haven’t learned much more about Margaret Thatcher beyond her enduring love for her devoted husband who predeceased her.

An underwhelming production that is singlehandedly elevated by Meryl Streep’s tour de force performance.

Very Good (***). Rated PG-13 for violent images and brief nudity. Running time: 105 minutes. Distributor: The Weinstein Company.