Pharma giant GlaxoSmithKline has brushed aside Brexit jitters and announced that it is pumping £275 million into its three UK manufacturing sites, including £110 million at Montrose, as it said the UK remained an “attractive location”.
The Montrose site makes ingredients for respiratory, HIV and vaccine products and employs more than 450 staff. GSK said the Scottish investment would provide a new leading-edge facility for the manufacture of respiratory active ingredients.
The investment will also cover existing GSK sites at Barnard Castle, Durham, and Ware in Hertfordshire, which will get £92m and £74m respectively. The company said the overall investment was expected to create an unspecified numbers of new jobs.
GSK chief executive Andrew Witty said that the UK’s “competitive corporate tax system” and skilled workforce helped the drugs giant come to its decision.
Witty, who backed the Remain campaign during the EU referendum, 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.”
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.”