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GSK to shut Stevenage R&D hub under plans to open new site in Cambridge
GSK will move more than 1,000 scientists to Cambridge as part of a £400 million investment and phase out its Stevenage hub by 2029.
- On Tuesday, British drugmaker GSK announced a £400 million investment to relocate its R&D operations from Stevenage to a new 300,000-square-foot facility on the Cambridge Biomedical Campus over three years.
- Ending a 50-year presence in Stevenage, the company will close that site by 2029 to integrate into the 'Golden Triangle' while upgrading facilities in Ware as part of a three-year cost-reduction program.
- Funding the phased move of 1,000 researchers, CEO Luke Miels announced the 'Accelerate Growth' program as GSK revealed a 5% rise in second-quarter sales to £8.4 billion, despite declining operating profits.
- Prime Minister Andy Burnham praised the plan as "a vote of confidence in British business," bolstering the Life Sciences Sector Plan while rival AstraZeneca continues its own investments in Britain's research ecosystem.
- Aiming to establish Britain among the top three life sciences economies by 2035, the company plans to expand its pipeline by starting 20-plus new phase 3 trials this year, twice the number previously planned.
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GSK to invest £400 million in Britain over three years as it ramps up R&D efforts
LONDON, July 28 (Reuters) - British drugmaker GSK said on Tuesday it will invest £400 million ($531 million) over three years in the country, including moving its R&D operations to Cambridge, as part of its plans to develop medicines faster under new...
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GSK to shut Stevenage R&D hub under plans to open new site in Cambridge
The move will impact around 1,800 staff currently based in Stevenage.
·London, United Kingdom
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GSK invests £400m to move research hub to Cambridge
Pharma giant GSK is to invest £400m into the creation of a new global centre of excellence in R&D in Cambridge, where it is hoped the next generation Pharma giant GSK is to invest £400m into the creation of a new global centre of excellence in R&D in Cambridge.
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Total News Sources12
Leaning Left1Leaning Right0Center6Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
14%
C 86%
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