25th Sep 2019 16:47
(Alliance News) - FTSE 100 listed pharmaceutical giant GlaxoSmithKline PLC is to invest USD120 million into manufacturing facilities in Pennsylvania, it said on Wednesday.
The investment at Upper Merion, Glaxo said, will create a technologically-advanced manufacturing hub, bringing research & development and manufacturing under one roof.
Since 2017, Glaxo has invested nearly USD400 million into its US manufacturing sites, across both vaccine and specialty drugs.
Chief Executive Emma Walmsley said: "These investments will support and accelerate the transformation of our pipeline to deliver the next generation of medicines and vaccines for patients who need them. This also underscores Glaxo's longstanding commitment to making innovative medicines and vaccines here in the US."
Shares in the company closed 1.2% lower on Wednesday in London at 1,680.00 pence each.
By George Collard; [email protected]
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