This item was published during the term of a previous administration that ended in April 2007
Listen
FM welcomes GSK investment
05/04/2006
First Minister Jack McConnell today said GlaxoSmithKline's decision to invest £25 million in their Montrose site was "fantastic news, both for the people of Montrose and Scotland's flourishing life science sector."
The First Minister spoke to Eddie Gray, Managing Director of the company, from the United States this morning.
He said:
"It is fantastic that GlaxoSmith Kline have decided to make such a major commitment to Scotland and to Montrose. 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 science's sector.
"Earlier this week a major new partnership in Scotland between Wyeth Pharmaceuticals and health boards, universities and Scottish Enterprise was also announced. Add this to GSK's decision today and we can see real evidence this sector is beginning to blossom.
"Helping to promote our life science sector on the world stage is one of the most important reasons for my visit to the US. A vote of confidence like this from GSK can only help me make the case."
Allan Wilson, Deputy Minister for Enterprise, said:
"On the day that manufactured export figures show positive changes to recent trends, this is more good news for the Scottish economy, particularly for Tayside.
"Scotland has an excellent reputation in life sciences and this significant investment will see that continue."
- Following a comprehensive review to increase capacity within GlaxoSmithKline's manufacturing network and against a backdrop of a significant pipeline of new products, GSK plans to invest £25 million in its site at Montrose, Scotland.
- The site, which makes active ingredients for a number of pharmaceuticals products, was previously scheduled to close at the end of 2007. However, following the review, the site is to remain open within the Company's Global Manufacturing and Supply network and will retain a workforce of 250 people.
- Production at Montrose will transition to providing strategic backup for at least four key active ingredients, with the potential of supplying others. The confirmed four are salmeterol, fluticasone, rosiglitazone and carvedilol. These are used in products which treat asthma, diabetes and heart disease which together last year generated sales of over £4.5 billion.
- Figures released today show that Scottish manufactured export sales increased by 1.9 per cent in real terms in 2005 Q4 from the previous quarter.