GSK is to invest £400m in a new research and development centre in Cambridge, relocating more than 1,000 scientists from its historic Stevenage site as part of a broader push to cluster its life-sciences operations alongside the city's university, hospitals and biotech scene. The move, announced under chief executive Luke Miels, comes with several other pieces of encouraging news for shareholders in the company's first-half results, offering some relief after years of disappointment for long-term investors.

GSK now expects to advance at least 20 potential medicines into late-stage trials this year, up from ten previously, aided by its near-£8bn acquisition of US cancer specialist Nuvalent. Miels also unveiled plans to cut £1.9bn in annual costs by 2029, and the company said operating margins should remain "stable to improving" even as patents on its major HIV drug dolutegravir, which accounts for roughly a fifth of group sales, expire between 2028 and 2030. GSK reiterated it remains "on track" to reach over £40bn in revenue by 2031.