GSK to cut back office jobs to fund £400m Cambridge R&D campus

GSK, under new CEO Luke Miels, plans sweeping layoffs in back office roles to fund a £400m mega-campus in Cambridge. The 300,000 square foot site will house over 1,000 scientists and become the new home for its R&D arm, replacing its Stevenage site by 2029. The move aims to bolster GSK's drugs pipeline and address a looming patent cliff on its HIV dolutegravir franchise, set to expire from 2028. Miels also announced a doubling of phase three trials from 10 to 20 this year. The investment signals improved relations between the UK government and the pharmaceutical industry after earlier disputes over NHS pricing, which were resolved by a deal to increase drug spending. GSK has lagged behind rivals Astrazeneca and US peers in recent years.

First published Aug 4, 02:57 PM UTCUpdated Jul 28, 11:02 AM UTC1 reports · 1 sources

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GSK to cut back office jobs to fund £400m Cambridge R&D campus

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GSK to cut back office jobs to fund £400m Cambridge R&D campusCity AMWesternJul 28, 11:02 AM UTC

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