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Pharmaceutical

GlaxoSmithKline to build new facilities in UK

March 22, 2012
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TEL AVIV, Israel — GlaxoSmithKline PLC announced Thursday that it would invest more than $794 million to build its first U.K. plant in 40 years and to add to two current facilities in Scotland, MarketWatch reported.

The investment, which will create more than 1,000 jobs, will help the company increase production of ingredients for its pharmaceuticals and vaccines.

The move reflects the government''s plan, announced on Wednesday, to cut corporate taxes on profit generated by U.K.-owned intellectual property, the article stated.

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