GSK plans Stevenage R&D closure amid £1.9bn cost-cutting drive
GSK is reshaping its UK research footprint as it shifts most research and development work from Stevenage to a new site in Cambridge. The move accompanies a broader plan to strengthen its medicines pipeline and deliver £1.9bn in annual savings by 2029.
Highlights
- GSK will close its Stevenage R&D hub and relocate most activities to the Cambridge Biomedical Campus to improve late-stage drug development.
- GSK targets £1.9bn in annual cost savings by 2029, including job cuts, to fund an expanded drug pipeline with 20 planned phase 3 trials.
- With loss of exclusivity on key medicines nearing, GSK aims to boost competitiveness and reach £40bn in annual revenue by 2031 under CEO Luke Miels.
Cambridge shift and pipeline strategy
As first reported by Financial Times, GSK says it will move most of its research and development activity to a new site on the Cambridge Biomedical Campus, one of Europe’s largest research centres. The company is closing its historic Stevenage hub as it seeks to improve the flow of new medicines into late-stage development.The relocation comes as chief executive Luke Miels pushes to expand the group’s drug pipeline by launching 20 phase 3 trials, the final stage of clinical testing before medicines are submitted for regulatory approval. The strategy is part of a wider effort to lift GSK’s competitive position against larger global rivals.
Cost savings and pressure on growth
GSK also announces a cost-saving programme intended to help fund the new pipeline, targeting annual savings of £1.9bn by 2029. The savings are expected to come partly through job cuts in areas including support services.Miels is under pressure to revive the drugmaker’s fortunes after years of weaker performance relative to competitors and to reach a target of £40bn in annual revenue by 2031. The company also faces the approaching loss of exclusivity on some of its most profitable medicines, increasing the need for replacement products and tighter cost control.
Our earlier article on UK astronomy funding cuts explained how planned budget reductions could end support for the e-Merlin radio telescope network and put Jodrell Bank’s operations at risk without replacement funding. We also noted the broader knock-on effects for the UK’s research capacity and skills pipeline, as participation is reduced in other major international science projects.
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