GSK in running for new factory
THE North-east has been earmarked as a potential location for a £300m pharmaceutical factory.
Drugs giant GlaxoSmithKline (GSK) confirmed its Barnard Castle site is one of three possible locations for the company’s first UK biopharmaceutical factory.
The move could create hundreds of jobs locally - not just at GSK, which employs 800 at Barnard Castle, but also throughout the Tees Valley pharmaceutical supply chain.
But the company said the factory was unlikely to be built before the Government’s Patent Box scheme comes into force in 2013.
A 10% corporation tax rate on income arising from UK patents was announced in the Government’s recent Pre-Budget Report to encourage more innovation in Britain.
A company spokesperson said: “GSK will consider a range of options as its pipeline of new biopharmaceutical products progresses and as implementation of the patent box scheme gets closer.
“Barnard Castle is likely to be one of several locations to be considered given the similar technologies in use at the site and the technical expertise of staff.”
GSK currently has six biopharmaceuticals in late-stage development for treatment of diseases such as lupus and diabetes, representing 15% of the company’s clinical pipeline.
The factory plans could be a shot in the arm for GSK, which last year announced 200 job losses at the Barnard Castle site.
Around 100 have already left through voluntary redundancy and early retirement.
Share
