GlaxoSmithKline has announced plans to expand its UK biopharmaceutical manufacturing capabilities, creating up to 1,000 new jobs in the process.
The healthcare company has selected Ulverston in Cumbria as the site for its first new British production facility in almost 40 years, with around 350 million pounds earmarked for its creation.
Meanwhile, more than 100 million pounds has also been allocated for enhancements to GlaxoSmithKline's existing Scottish sites in Montrose and Irvine, which will help to bolster the firm's pharmaceutical pipeline.
The organisation is making these commitments to the UK industry following a confirmation in the Budget that a patent box scheme will be introduced to lower taxation rates on UK-owned intellectual property.
GlaxoSmithKline chief executive officer Sir Andrew Witty said: "The medicines of the future will not only be discovered, but can also continue to be made here in Britain."
Earlier this month, the company also announced the launch of a new multidisciplinary apprenticeship scheme for the UK, which will commence in August 2012.