GSK Cuts Neuroscience & Outlines Strategy For Growth

In an earnings call today, GSK Chief Executive Andrew Witty set out his vision of the future for the drugs giant.

He didn't confirm the number, but it is thought that 4,000 staff will lose their jobs, including scientific researchers as well as sales reps.  Many of these cuts will be in GSK's major neuroscience research locations, as Witty announced that GSK will cut many CNS research programmes including those in depression, pain and anxiety.  Staff are being told today.

GSK also announced that their commercial strategy will shift away from Western markets and towards developing markets, as widely reported previously (and blogged by me earlier this week). Last year, for the first time, they had more sales reps outside USA and Europe than inside those regions.