Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

GlaxoSmithKline Confirms Significant Investments In UK Manufacturing

RELATED NEWS
Trade GSK now with 
3/22/2012 3:17 AM ET

GlaxoSmithKline Plc (GSK: Quote, 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.

Click here to receive FREE breaking news email alerts for GlaxoSmithKline PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Justin Moore has been named Humanitarian of the Year by by the Armed Forces Foundation. Moore received the award alongside Big Machine Label Group President/CEO Scott Borchetta for their service and commitment to the morale and welfare of military families through the Crown Royal "Your Hero's Name Here" contest. International Business Machines Corp. said Wednesday after the markets closed that its first quarter profit fell 21% from last year, hurt by lower revenue as well as a hefty workforce rebalancing charge. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Stocks moved sharply higher over the course of the trading day on Wednesday, further offsetting the steep losses posted late last week. The markets benefited from a positive reaction to the latest earnings news as well as remarks by Federal Reserve Chairman Janet Yellen. The major averages saw further upside going into the close, ending the session at their best levels of the day.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.