GlaxoSmithKline is to invest £275 million in three sites including its operation at Ware in Hertfordshire.
GSK expects to create new employment opportunities and says the decision is down of the skilled workforce here and the UK's leading position in life sciences.
It's positive news following the vote to leave the European Union which has brought economic uncertainty and delays in investment decisions.
GSK employs 16,000 people in Britain. The new investment at Ware is close to two of the company's other sites in Stevenage and Harlow.
All along the M11 corridor through Hertfordshire and Essex into Cambridgeshire there's a concentration of science-based companies. In the past, the former Chancellor George Osborne has highlighted the area for growing investment in the sector.
Click below to watch a report from ITV News Anglia's David Hughes