GSK has announced plans to invest £500m in its UK R&D and production operations with a particular focus on boosting biomanufacturing capacity. This is the first new manufacturing capacity that GSK has built in Britain in decades -- and perhaps not coincidentally the decision coincides closely with the UK government's announcement to introduce its "patent box" policy. The new policy will decrease tax rates on patented products by 10%.
GSK to invest £500m in UK R&D and manufacturing.
GSK says it will add capacity at its Ware, Hartfordshire facility, add a new dermatology-focused production center in Barnard Castle. In addition to manufacturing, GSK will form a partnership with University of Nottingham for a "green chemistry" program, and will also establish a £50m venture capital fund to invest in "innovative, breakthorough science" most likely with small companies and universities. The overall GSK program is expected to add more than 1000 jobs over the next couple years - which I'm sure is welcomed by the UK government.
Posted by Bruce Lehr November 30th 2010.
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