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GlaxoSmithKline to Invest £275m in UK Manufacturing Sites


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GlaxoSmithKline to Invest £275m in UK Manufacturing Sites

 27/07/2016

Barnard Castle, Ware and Montrose, UK – Pharmaceutical giant GlaxoSmithKline (GSK) is investing millions in its manufacturing sites across the UK despite the economic uncertainty created by last month’s EU referendum.

The firm is set to plough £275m into expanding its UK business after admitting the country is still an “attractive location” despite the Brexit vote.

The firm’s chief executive, Andrew Witty, said the UK remained an appealing base of operations due to its skilled workforce and competitive tax system, according to BBC News.

GSK has confirmed that the majority of the products manufactured at the sites would be exported, with the investment expected to create a raft of new jobs. The company currently has 6,000 UK employees.

Mr Witty, who previously supported the Remain campaign, 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 nine-figure investment will be spread across GSK’s Barnard Castle site in County Durham, Ware facility in Hertfordshire and Montrose factory in Angus.

Commenting on GSK’s commitment to its UK operations, 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.”

In the wake of June’s EU referendum, some feared that pharma giants like GSK and AstraZeneca would seek to relocate their headquarters away from the UK due to Brexit.


CompanyGSK
Company Websitehttp://www.gsk.com

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