Pharma giant supports manufacturing
GSK backs UK with investment in drugs plants
Montrose in north east Scotland, Barnard Castle, in County Durham, and Ware, to the north of London, will benefit from the capital expenditure.
Montrose, which was once threatened with closure, will receive £110m for a new facility at the plant where it employs 450 staff.
It said that in spite of supporting the EU Remain campaign the company will continue to support manufacturing in the UK because of its skilled workforce and relatively low tax rates.
It has identified the corporation tax benefits of the patent box as particularly beneficial.
The company is increasing production of next-generation respiratory drugs and biotech medicine, mostly for export.
Chief Executive Andrew Witty said: “It is testament to our skilled UK workforce and the country’s leading position in life sciences that we are making these investments in advanced manufacturing here.”
The company, which employs 16,000 in the UK, including 6,000 in manufacturing, is due to report quarterly results today.
UK Business and Energy Secretary, Greg Clark said: “An investment of this scale is a clear vote of confidence in Britain and underlines our position as a global business leader.
“GSK’s recognition of our skilled workforce, world leading scientific capabilities and competitive tax environment is further proof that there really is no place better in Europe to grow a business.”
Scotland Office Minister Andrew Dunlop said: “It is great news that GlaxoSmithKline is boosting investment in Scotland, and a real testament to the hard work and skills of the workforce in Montrose.
“Above all, it is a clear vote of confidence in the country’s economy, and shows that Scotland and the UK are very much open for business.”
Photo: Andrew Witty (contributed)