logo
Share SHARE
FONT-SIZE Plus   Neg

GlaxoSmithKline Confirms Significant Investments In UK Manufacturing

GlaxoSmithKline Plc (GSK, GSK.L) confirmed that it will invest above 500 million pounds in the UK across its manufacturing sites to increase production of key active ingredients for its pharmaceutical products and vaccines.

The comapny further stated that it will invest more than 100 million pounds across its two manufacturing sites in Scotland - Montrose and Irvine. In total, it is expected that these investments will create up to 1,000 new jobs over the lifetime of the projects and will also benefit the wider construction industry and the many companies which supply GSK with services and facilities in the UK, GlaxoSmithKline added.

According to the company, the investments follow confirmation by the Government in the Budget that it will implement a 'patent box' to encourage investment in R&D and related manufacturing in the UK, by introducing a lower rate of corporation tax on profits generated from UK-owned intellectual property.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Netflix Inc. and movie studio Disney are finally taking their deal that was announced in 2012 to the next level. The online movie rental service will become the exclusive U.S. pay-TV home of the latest films from Disney, Marvel, Lucasfilm and Pixar. Abercrombie & Fitch Co. (ANF) reported a GAAP net loss attributable to company of $39.6 million for the first quarter ended April 30, 2016 compared to a loss of $63.2 million, last year. Excluding certain items last year, net loss attributable to Abercrombie & Fitch Co. increased $2.4 million. Net... Dollar General Corp. (DG) reported first-quarter net income of $295 million, or $1.03 per share compared to $253 million, or $0.84 per share, a year ago. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 for the quarter. Analysts' estimates typically...
comments powered by Disqus
Follow RTT