GlaxoSmithKline’s Scottish investment praised

Scotland’s first minister has welcomed news that pharmaceutical giant GlaxoSmithKline (GSK) is to invest ?25 million at its Montrose site.

Jack McConnell described the announcement from GSK as “fantastic news”, with the firm’s decision to plough funds into the plant in order to help bring new products on line providing an economic shot in the arm for the region.

GSK had originally intended to shut the plant down by the end of 2007, but a review of the firm’s manufacturing plans has seen the site remain open with a workforce of 250 people.
Mr McConell said the deal would bring benefits “both for the people of Montrose and Scotland’s flourishing life sciences sector”.
Speaking to GSK managing director Eddie Gray, he commented: “An investment of ?25 million shows the company is committed to Scotland for the long-term.

“Their decision is a real tribute to the workforce in Montrose and I am delighted that 250 jobs have been safeguarded.

“But this is not just a major boost for the local economy; it is also a sign of the growing confidence and global importance of Scotland’s life sciences sector.”

The Montrose site will focus largely on four key active ingredients: salmeterol, fluticasone, rosiglitazone and carvedilol.

Cumulatively the products, which treat asthma, diabetes and heart disease, generated sales of over ?4.5 billion last year.

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