Pharma giant GSK is to invest £400m into the creation of a new global centre of excellence in R&D in Cambridge, where it is hoped the next generation of medical treatments will be created.
The 300,000 square foot site, based on the Cambridge Biomedical Campus, will feature state-of-the-art, tech-enabled labs and infrastructure, forming one of the GSK’s main focal points for drug discovery and development.
GSK plans to close its Stevenage site, where it has had a presence for over 50 years, as part of the move.
“This investment will accelerate our R&D and help us deliver new, competitive products,” says Luke Miels, CEO at GSK.
“It integrates GSK further into one of the world’s leading centres of knowledge and demonstrates the attractiveness of the UK’s life sciences ecosystem.”.
This latest success for the sector follows more than £3bn of new public-private investment in the UK life sciences over the last 12 months since DSIT launched the life sciences sector plan.
The plan set out the government’s ambition to make the UK the third largest life sciences sector economy in the world by 2035 and ensure that NHS patients are benefitting from new drugs and faster access to medicines.
The life sciences sector is a key provider of growth and jobs in every corner of the nation, generating around £147bn in turnover and employing some 360,000 people – more than double the population of Cambridge.
“This investment by GSK is a vote of confidence in British business, a boost for home grown innovation and expertise, and a step towards more people getting access to new medicines and cutting edge treatments that will change lives for the better,” says Prime Minister Andy Burnham.
