LONDON, March 22 GlaxoSmithKline,
Britain's biggest drugmaker, confirmed plans on Thursday to
invest more than 500 million pounds in manufacturing in Britain
and said it had selected Ulverston, northern England, as the
site for a previously announced biotech plant.
GSK had already said it aimed to ramp up investment and
bring more jobs to Britain in response to government plans to
reduce the level of corporation tax applied to income from
patents - a move known as a patent box.
The confirmation of the investment strategy comes the day
after finance minister George Osborne's budget in which he laid
out business-friendly tax plans, including reiterating the
introduction of the patent box.