PHARMACEUTICAL major GlaxoSmithKline (GSK) is planning to extend its facility in Stevenage, Hertfordshire that would create up to 5,000 new jobs, BBC reported.
The site is one of GSK's two global research and development hubs, and hosts the UK's largest work into cell and gene therapy.
The plan involves selling off a third of the site, which is expected to unlock £400 million of new investment.
The company aims to start the project in 2022. The new campus - which will sit next to GSK's existing site at Stevenage - could ultimately deliver 100,000 square metres of new floor space for commercial life sciences research and development.
"The past 18 months has shown the UK life sciences sector at its best and the UK has recently unveiled an ambitious 10-year vision for the UK life sciences sector," said GSK senior vice president Tony Wood.
"Our goal is for Stevenage to emerge as a top destination for medical and scientific research by the end of the decade," he added.
The drug company, recently came under pressure from shareholders to reconfigure its businesses amid criticism over its performance.
GSK is a leading vaccine maker, but has been late to develop a jab for Covid-19. Its Covid vaccine, which is being developed with France's Sanofi, is still undergoing trials.
However, the company is now focusing on developing new drugs and vaccines, with the GSK boss Emma Walmsley selling its consumer healthcare division, which makes big-brand products including Sensodyne and Panadol.
Reena Barai, chair of the PB Conference, on the podium with Sadik Al-Hasan, Harry McQuillan, Shilpa Shah and Nick Kaye on stage
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