PHARMACEUTICAL giant GSK has today announced a £275m investment in three UK sites, but Ulverston isn't one of them.

The investment will boost production and support delivery of its latest respiratory and large-molecule biological medicines at Barnard Castle in County Durham, Montrose in Scotland, and Ware, Hertfordshire.

The company is already investing £350m in a new biopharmaceuticals factory at Ulverston.

Although Ulverston will not benefit directly from the latest tranche of investment, the decision is no less welcome because its shows an intent to continue investing in the UK despite the vote to leave the EU.

GSK's chief executive, Sir Andrew Witty, was among the prominent business people to sign a letter just before the referendum urging the public to vote 'Remain'.

But announcing the investment, the company said that it “views the UK as an attractive location for investment in advanced manufacturing” citing the skilled workforce, technological and scientific capabilities and infrastructure, and a “competitive corporate tax system”.

Sir Andrew said: “‘Today’s announcement reflects further investment to support our pharmaceutical pipeline and meet growing demand for our innovative portfolio of newly launched products.

“It is testament to our skilled UK workforce and the country’s leading position in life sciences that we are making these investments in advanced manufacturing here.

“From their manufacture in the UK, many of these medicines will be sent to patients around the world.”

GSK employs around 6,000 people in the UK. The drop in the value of sterling since the referendum has boosted the company's share price as it makes exports more competitive.

GSK says that the “vast majority” of the products produced at Barnard Castle, Montrose and Ware will be exported.

The company is due to announce interim results later today.