GlaxoSmithKline nears deal to build £400m science campus in Hertfordshire

Drugmaker GlaxoSmithKline was said to be nearing a deal to build a £400.0m science campus in Hertfordshire that could create as many as 5,000 highly skilled jobs over the next decade.

According to This is Money, GlaxoSmithKline has been looking for a property developer to help it transform 33 acres of land in Stevenage into one of the biggest "clusters" for life science start-ups in Europe.

The FTSE 100-listed firm, which originally announced its plans to build the campus back in July 2021, was expected to make an announcement in the very near future.

GlaxoSmithKline's move to build its new campus comes as part of a super-charged growth plan put together by chief executive Emma Walmsley, which will see the company split down the middle - separating its drugs unit from its consumer healthcare brands, with the latter to list on the London Stock Exchange as a separate entity known as Haleon.

As of 0845 BST, GSK shares were down 0.36% at 1,727.0p.

Reporting by Iain Gilbert at Sharecast.com