Pharmaceutical company GlaxoSmithKline (GSK) will create up to 5,000 new jobs in plans to build one of the largest life sciences sites in Europe.
The drugs giant is planning to extend its facility in Stevenage, Hertfordshire, where research and development is currently carried out. It has the potential to create thousands of highly skilled jobs in the next five to 10 years.
Stevenage is one of GSK’s two global hubs, conducting the largest work into cell and gene therapy in the UK. Development of the new site is expected to start in 20222, with the new building sitting next to the current one. It could provide 100,000 square metres of new floor space dedicated to life sciences research and development.
The work during the pandemic over the past 18 months showed the UK life sciences sector at its best. Meanwhile, the UK recently revealed an ambitious 10 year plan for the future of the industry. And GSK’s senior vice president Tony Wood says the “goal is for Stevenage to emerge as a top destination for medical and scientific research by the end of the decade”.
Development of vaccines
However GSK has faced criticism from shareholders applying pressure for reconfiguration of its businesses amid concerns over performance.
Although the company is a leading vaccine maker, it is late to develop one for Covid-19, with its attempt still undergoing trials. GSK are currently developing the vaccination along with French pharmaceutical company Sanofi.
In a further move to focus more heavily on developing new drugs and vaccines, GSK is selling their consumer healthcare division, which is home to big brands including Sensodyne and Panadol. The firm aims to raise funds of £400m through sale of a third of the existing 92-acre site.
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