British pharma giant GSK announces $30B investment in US
What's the story
British pharmaceutical giant GlaxoSmithKline (GSK) has announced a massive $30 billion investment in the United States. The commitment comes as part of a five-year plan to bolster research and development (R&D) and manufacturing capabilities. The announcement was made during US President Donald Trump's state visit to the UK. GSK CEO Emma Walmsley emphasized their dedication to strengthening their existing R&D and supply chain in America.
Strategic allocation
Investment to build next-gen factories, AI, research labs
The $30 billion investment will be used for building next-generation factories, AI, and research labs in the US. Of this amount, $1.2 billion has been earmarked for advanced manufacturing. The funds will also go toward establishing a new factory in Pennsylvania to produce respiratory and cancer medicines. GSK also plans to enhance its digital technology capabilities across its American manufacturing sites in Pennsylvania, North Carolina, Maryland, and Montana.
Broader impact
Move strengthens GSK's supply chain, fund drug research
The remaining portion of the $30 billion investment will be used to strengthen GSK's supply chain and fund drug research. The move has been welcomed by British Prime Minister Sir Keir Starmer as a "powerful example" of collaboration between the two nations. He added that the investment would create new jobs and boost drug development.
Continued investment
Walmsley assures continued investment in UK manufacturing base
CEO Walmsley also assured that GSK will continue to invest in its UK manufacturing base. The company plans to keep spending over £1.5 billion annually on research and development from Britain. This comes amid fears of potential Trump tariffs as steep as 250% on pharmaceutical imports, which have caused concern in the industry.