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

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A no entry sign is pictured outside the GlaxoSmithKline building in Hounslow, west LondonGlaxoSmithKline 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.

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