BIA and bioProcessUK Welcome GlaxoSmithKline Manufacturing Investment
News Sep 24, 2012
The BioIndustry Association and bioProcessUK welcomes announcement that GlaxoSmithKline is to invest £500 million in manufacturing facilities in the UK, including £350 million in building a new biopharmaceutical manufacturing facility in Ulverston, Cumbria.
Glyn Edwards, BIA Interim Chief Executive, said: "GlaxoSmithKline's confirmation that it will build a new biopharmaceutical manufacturing facility in the UK is a fantastic boost for the UK's life sciences sector. The investment recognizes that the UK is one of the world's leading locations for life sciences discovery, development and manufacturing and that recent changes to the corporate tax system make the UK an increasingly attractive place for investment. GlaxoSmithKline acknowledged that this investment is on the back of the government's "patent box" legislation, which was first proposed in the BIA-supported Bioscience Innovation and Growth Team's Review and Refresh of Bioscience 2015 report."
Tony, Bradshaw, Co Director of the HealthTech and Medicines Knowledge Transfer Network, said: "The BIA and bioProcessUK believe this is a critically important announcement that will start to capture the value of the UK's competitive biopharmaceutical research capability. The important tax benefits provided by the patent box, and commitment to a decreasing corporation tax, will leverage this world class capability increasing investment, creating jobs and provide the UK with the opportunity to make, as well as discover, the next generation of advanced medicines in the UK."