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GSK to Invest USD 531 Million in UK, Shift R&D Operations to Cambridge
['Sheeba Farhat', 'Written']
Medical News, Health News Latest, Medical News Today - Medical Dialogues |
London: British drugmaker GSK said on Tuesday it will invest pound 400 million (USD 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 CEO Luke Miels.
"This investment by GSK is a vote of confidence in British business.
GSK's decision builds on more than £3 billion in life sciences investment secured in the past 12 months under the government's Life Sciences Sector Plan, which aims to establish Britain among the top three life sciences economies by 2035.
Rival AstraZeneca announced a £300 million investment in Britain earlier this year, reversing its decision to pause large-scale projects.
GSK said the new 300,000-square-foot site in Cambridge, eastern England, one of Britain's leading life sciences hubs, will support research in its therapeutic focus areas including cancer and respiratory diseases.