Drugs giant to axe up to 350 R&D jobs across the US and UK

About 50 jobs will be impacted in the group’s main UK R&D hub in Stevenage, Hertfordshire

Drugs giant GSK is set to axe up to 350 research and development jobs across the US and UK.

The ongoing overhaul of the division is understood to include cuts to about 50 roles in the group’s main UK R&D hub in Stevenage, Hertfordshire, although the final number of jobs being impacted in Britain and the US is set to be confirmed in the coming months.

The FTSE 100-listed group announced a move five years ago to merge its vaccines and speciality medicines operations, alongside spinning off its consumer healthcare business, which listed separately as Haleon in 2022. It has since been cutting out duplicated roles as part of the R&D changes.

GSK – which employs around 12,000 workers in its global R&D operations – did not say how many UK jobs in total would go in the latest round of cuts, which will see up to 350 roles go across the division in the UK and US.

It has more than 2,500 employees at its Stevenage R&D site.

The firm insisted it is continuing to ramp up R&D investment in the UK, having spent more than £1.5 billion last year.

GSK employs around 12,000 workers in its global R&D operations (PA)

A GSK spokesperson said: “GSK R&D investment has risen by almost 90 per cent over recent years – to £6.4 billion in 2024 – and we expect it to increase further as we focus on delivering our pipeline of new medicines with multi-blockbuster potential before 2031.

“As we increase investment, we’re focused on allocating resources to these priorities and making sure we have the right people in the right teams.”

The firm added it was “investing in technology to maximise our scientific capabilities and drive productivity, and in our key R&D sites over the next five years to accelerate drug discovery and research”.

The cuts come after new chief executive Luke Miels took over from Dame Emma Walmsley at the start of the year.

Formerly chief commercial officer at GSK, Mr Miels had worldwide responsibility for medicines and vaccines in his previous position.

He is preparing to unveil the group’s annual results on Wednesday – his first set of figures since taking on the top job.

GSK said in July it expects annual constant currency revenue growth at the top end of the previous guidance for between three and five per cent, and core operating profit growth at the top end of the six to eight per cent range.

In 2024, it reported revenues of £31.38 billion and total operating profits of £4.02 billion, with core earnings of £9.15 billion.