Glaxo's £500m investment to create 1,000 manufacturing jobs for pharmaceutical industry

Britain's £10billion pharmaceutical industry was given a welcome boost yesterday as drugs giant GlaxoSmithKline announced plans to create 1,000 jobs. The company, which employs 15,000 UK workers, confirmed it is pumping £500million into its manufacturing sites.
This includes building a new factory at Ulverston, Cumbria – the firm’s first in 40 years.
GSK’s move was influenced by tax cuts in the Budget on money invested in research and development.
Sir Andrew Witty, GSK’s chief executive, said the introduction of a ‘patent box’, which cuts corporation tax rates on profits from UK innovations, fuelled the decision.
As well as building the new factory, it will inject £100million into Scottish sites at Irvine and Montrose, and £80million at its site in Ware, Hertfordshire, to boost capacity for inhalers and at Barnard Castle, County Durham

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