GSK Announces Major Investment Plan

Despite the recent Brexit vote, GSK has signalled its commitment to the UK by announcing a £275m investment plan at three of its manufacturing sites.

The move will boost production and support delivery of its latest respiratory and large molecule biological medicines, the vast majority of which will be overseas export.

Amid concerns that the vote to leave the EU could lead to major multinational companies curtailing their investment in the UK, GSK said it still views the country as an attractive location for investment in advanced manufacturing due to a number of factors including the skilled workforce, technological and scientific capabilities & infrastructure and a competitive corporate tax system.

Andrew Witty, CEO, GSK said: “Today’s announcement reflects further investment to support our pharmaceutical pipeline and meet growing demand for our innovative portfolio of newly launched products. 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. From their manufacture in the UK, many of these medicines will be sent to patients around the world.”

The investment announced today is split across three UK sites: Barnard Castle in County Durham, Montrose in Angus, and Ware in Hertfordshire.

GlaxoSmithKline currently employs 16,000 people in the UK, 6,000 of which are employed at its nine manufacturing sites.