(Alliance News) - GlaxoSmithKline PLC on Monday unveiled plans for a new global headquarters in Weybridge, Surrey for its soon-to-be spun-off Consumer Healthcare business.
The new campus is due to open in 2024, the company said.
The move comes amid plans for the separation of GSK's Consumer Healthcare division from its core pharmaceutical and vaccine business in mid-2022.
After the split, the Consumer Healthcare business will relocate to a temporary headquarters in Weybridge before moving into the new facility, the company noted.
London-based GSK said its Consumer Healthcare arm brings in sales of over GBP10 billion each year.
The pharmaceutical company said the campus will support the Consumer arm's UK-teams, including space for around 1,400 employees. It will also host an innovation centre, with research and development and Consumer Healthcare Shopper Science labs.
"This investment in a new cutting-edge campus in the UK will bring together our first-in-class teams as we drive towards our ambitions as the world's leading consumer healthcare company. Today's announcement is an important step as we prepare for separation, marking an exciting new beginning for new Consumer Healthcare," said the designated chief executive of GSK Consumer Healthcare, Brian McNamara.
GSK said its pharmaceutical and vaccines business plans to remain at its current headquarters in Brentford, west London until at least 2023 and will provide an update on new headquarters in mid-2022.
Shares in GSK were down 0.6% at 1,384.20 pence each in London on Tuesday morning.
By Scarlett Butler; scarlettbutler@alliancenews.com
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Glaxosmithkline (GSK)