GSK to cut jobs amid £1.9bn cost-cutting plan and bid for faster drug development
📰 source: theguardian_business · 💼 business
gsk announced sweeping job cuts as part of a £1.9bn cost-cutting plan, with a £400m investment in uk life sciences over three years. the british drugmaker will move more than 1,000 scientists to a new cambridge r&d centre, close its stevenage site by 2029, and upgrade labs in ware. ceo luke miels said the investment will accelerate r&d and help deliver new products. gsk targets 20 phase 3 trials—double earlier plans—and aims for £1.9bn in annual savings by 2029. about 45% of savings will come from support services and procurement, while 40% comes from shifting resources from established treatments. shares rose 6% on the news. the announcement follows astrazeneca's recent £300m uk investment.
why it matters: gsk's restructuring aims to speed drug development and cut costs, signaling a strategic shift under new ceo.
source: theguardian_business
sentiment: -0.20 · impact: 0.60