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"Patent box" encourages GSK to invest $330 million more in UK
2013-12-18
 

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"Patent box" encourages GSK to invest $330 million more in UK

2013-12-18

LONDON (Reuters) - GlaxoSmithKline is to invest another 200 million pounds ($330 million) on advanced manufacturing in Britain, the company said on Wednesday, underlining the draw of a tax break designed to encourage research and development.

Britain's so-called "patent box" scheme, which offers a reduced rate of corporation tax on income derived from patents, has been hailed by GSK, its biggest drugmaker, for transforming the country as a place to invest.

Last year GSK announced it was building its first new factory in Britain for 40 years as a result of the scheme. The latest move will help it ramp up output of new lung drug Relvar, produce the long-established antibiotic Augmentin and develop innovative technologies for medicine production.


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http://news.yahoo.com/quot-patent-box-quot-encourages-gsk-invest-330-000310842--finance.html;_ylt=AwrSyCMoFLFScF0AFirQtDMD

 

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