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GSK plans to invest over £200 million to improve its UK sites

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The company’s new production facility in Montrose, Scotland, is slated for completion this year

British Pharma giant, GSK is planning to invest more than £200 million (about $253 million) into the United Kingdom over the next two years to strengthen its manufacturing network.

The money will be used to improve the pharmaceutical group’s UK sites, including construction of new facilities and assembly lines, The Daily Mail first reported on Sunday.

GSK has already earmarked £67 million to upgrade its manufacturing site in Montrose, Scotland, where a new production facility is being constructed. The upgrade is expected to help boost its production of active pharmaceutical ingredients (API) for the future supply of medicines.

Regis Simard, head of global supply chain, told the publication that their six UK manufacturing sites, including Montrose, are an important part of their global manufacturing network.

The company, which is currently valued at £65 billion, is also preparing to open a new headquarters in central London later this year, and kick off production at its £65 million global facility in Ware, Hertfordshire which opened in September last year.

Additionally, it has joined hands with other firms including Swiss investment bank UBS for a £900 million venture to construct a life sciences hub in Stevenage, which is estimated to create 5,000 jobs when it opens next year.

Last week, the group acquired asthma drug maker Aiolos Bio in a deal worth more than £1 billion.

While GSK is on an investment spree in Britain, arch rival AstraZeneca is looking abroad to expand its business.

Last February, AstraZeneca CEO Pascal Soriot cited the U.K.’s “discouraging” tax rate as the reason behind the company’s decision to build a £330 million factory in Ireland rather than north west England.

Earlier this month, GSK’s chief executive Dame Emma Walmsley had praised the UK economy, stating that Britain was “uniquely placed” to perform well in life sciences, given its strong academic skills, high-profile companies and the NHS.

 

 

 

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