GSK launches three-year £1.9bn savings plan to boost late-stage R&D and relocate research HQ
GSK announced a three-year cost-saving programme designed to free cash for its late-stage research and development pipeline while moving its research headquarters.
The plan targets annual savings of £1.9 billion by 2029, with a one‑off investment of £2.4 billion. About 45% of the savings are expected from improved procurement and support functions that are not directly involved in lab work.
Another 40% of the savings will come from reallocating resources away from mature products toward specialty and novel medicines.
The CEO did not disclose a specific number of job cuts, saying the company will discuss any staff changes with employees in due course.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “GSK unveils 3-year cost-saving plan to fund late-stage R&D, move research HQ to AZ's backyard”
read at Fierce Biotech ↗
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