Drug giant GlaxoSmithKline, which is moving ahead with plans to spin off its consumer business and is under pressure from investors to possibly replace CEO Emma Walmsley, early Friday announced big expansion plans in the U.K.
The company says it will build a new life science campus costing more than $550 million and create as many as 5,000 jobs with work beginning as soon as next year. To help fund the site, GSK is selling some land at the site which already houses the company’s R&D center in Stevenage. Cell and gene therapy research is already done at the campus.
“Stevenage could become one of Europe’s largest ‘clusters’ for biotechnology and other early-stage life science companies,” GSK said.
Stevenage is located some 30 miles north of London. GSK’s global headquarters is located in London.
Tony Wood, senior vice president for Medicinal Science & Technology at GSK, added: “Our goal is for Stevenage to emerge as a top destination for medical and scientific research by the end of the decade. We are excited to find a development partner to realise our vision to foster the next generation of world-class scientists and biotechnology firms in Britain.”
GSK operates an R&D center in RTP and a manufacturing plant in Zebulon.
Original Source: WRAL TechWire