GSK has revealed a fresh strategy to invest $30bn (£22bn) in research and manufacturing infrastructure across the US.
The London-headquartered firm announced the capital would be allocated over the coming five years and would generate hundreds of highly-skilled American positions in sectors including AI and cutting-edge digital technologies, as reported by City AM.
The yearly investment of £4.4bn into the US dwarfs the approximately £1.5bn R&D budget GSK has earmarked for the UK. Nevertheless, the corporation has boosted its UK expenditure by roughly 50 per cent from £1bn annually just a few years previously.
GSK representatives emphasised the investment strategy did not represent a “no confidence” verdict in the UK whilst CEO Emma Walmsley remarked the state visit “brings together two countries that have led the world in science and healthcare innovation.
“We are proud to be part of both,” Walmsley said.
‘It’s not good’
The decision places GSK amongst an expanding roster of pharmaceutical firms that have either reduced capital expenditure in the UK or amplified it in the US.
Last week, Merck abandoned a proposed £1bn research facility in King’s Cross after cautioning the UK was “not internationally competitive”, whilst AstraZeneca announced a $50bn investment commitment into the US following the cancellation of plans for a new vaccine manufacturing plant in the UK.
“There’s no sugarcoating Merck’s decision to leave its planned new HQ in King’s Cross. It’s not good,” said London & Partners CEO Laura Citron. “Merck points to the UK’s weaknesses in drug pricing and investment in R&D. Fair and important critiques, which we hear frequently in our conversations with international pharma about setting up in London.”
GSK’s announcement coincides with a series of pledges from British and American companies to invest in each other’s nations, aligning with US President Donald Trump’s state visit to the UK.
This includes a £5bn investment commitment from tech behemoth Google to construct additional data centres in Britain, along with a £500m pledge from asset management firm Blackrock.
In response to the announcement, Prime Minister Keir Starmer defended the decision, describing it as a “powerful example of how UK-US collaboration is driving real-world impact,” and added that the investment would “change lives on both sides of the Atlantic, helping to accelerate the development of cutting-edge technologies.”
