GSK CEO outlines £1.9bn cost-saving drive and aims to launch 20 Phase 3 trials by year-end

GSK chief executive Luke Miels presented a three‑year plan to make the company more agile and generate significant cost efficiencies. The strategy targets £1.9 billion in annual savings by 2029, with most of the reduction earmarked for reinvestment in the firm’s late‑stage pipeline.

Miels said the savings effort will be reinvested to accelerate development of potential best‑in‑class products across GSK’s core therapeutic areas, including newer focuses such as oncology and liver disease alongside long‑standing strengths in vaccines and HIV.

A key operational target is to launch at least 20 Phase 3 clinical trials this year, doubling the 10 trials the company had disclosed at the start of 2026. The expanded trial slate is intended to broaden the pipeline and improve the odds of future product approvals.

While the cost‑cutting program is expected to involve workforce reductions, the CEO did not disclose the number of jobs that may be eliminated.