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GSK backs out of Ulverston site investment
Pharmaceutical giant, GSK, has backed out of its formerly proposed £350million investment into its site at Ulverston, Cumbria. The funds were going to a new biopharma drugs facility.
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Tim Farron: GSK should leave 'dowry' for site's future investment and jobs
South Lakeland MP Tim Farron has called for pharmaceutical company GlaxoSmithKline (GSK) to leave a dowry behind to make future investment in the site more attractive for a potential buyer and to support local jobs.
This week GSK shocked the area by pulling out of a planned £350million investment in the Ulverston site which would have supported hundreds of local jobs.
Tim Farron says the local community is still reeling from the news:
- ITV Report
GSK backs out of £350m investment at Ulverston site
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South Lakes council 'shocked' at GlaxoSmithKline's Ulverston investment back out
South Lakeland District Council (SLDC) say they are 'shocked and disappointed' at pharmaceutical giant, GlaxoSmithKine's (GSK) decision to pull out its investment from its Ulverston site in Cumbria.
SLDC’s portfolio holder for the economy, Councillor Graham Vincent, said the news was a blow. He said the council's concern now is to understand the implications for the future of the current site and the existing GSK employees in Ulverston.
The SLDC's chief executive spoke to GSK management who have said there will be no immediate impact on the existing workforce and the site does remain profitable. The council have said they will assist the company in finding a buyer, to continue the operation of the facility, should they decide to sell up.
Latest ITV News reports
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GSK backs out of £350m investment at Ulverston site
Glaxo Smith Kline has pulled out of building a nre £350m biopharm drugs facility, throwing doubt on the future of the existing site.