GSK to Close Stevenage R&D Hub and Open New Cambridge Site

1-Minute Brief

The restructuring reflects GSK's strategy to accelerate drug development and invest in the UK life sciences sector.

Key Facts

• GSK will shut its Stevenage research and development hub.
• The move will affect approximately 1,800 staff currently based in Stevenage.
• GSK plans to open a new R&D site in Cambridge.
• The company is implementing a £1.9bn cost-cutting programme.
• GSK is investing £400m in UK life sciences over the next three years.

What Happened

GSK announced plans to close its Stevenage R&D facility, impacting around 1,800 staff, and to open a new research and development site in Cambridge as part of a broader cost-cutting and investment initiative.

Why It Matters

This move signals a significant shift in GSK's UK operations, aiming to streamline costs while boosting investment in drug development and the life sciences sector.

What's Next

Staff transitions and further details on the Cambridge site are expected as GSK implements its restructuring and investment plans.