GSK To Close Shanghai Neurological R&D Operations
publication date: Aug 3, 2017
GlaxoSmithKline will shut down its Shanghai neurological R&D operations in Zhangjiang Hi-Tech Park as part of a corporate reorganization that will focus the company's R&D work into several key areas: respiratory and HIV/infectious diseases, along with a lesser emphasis on oncology and immuno-inflammation. The overall restructuring, which will jettison some 30 current GSK projects, was announced by new GSK CEO Emma Walmsley, who has spent time working in Shanghai as Head of GSK's China Consumer Products division. GSK's Beijing-based vaccine R&D operations are not affected by the cuts. Despite the changes, GSK told Fierce Pharma it will expand in China to "accelerate the development of new medicines." More details....
Stock Symbol: (NYSE: GSK)
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