Despite the UK’s claims as a life sciences powerhouse, one of its leading pharmaceutical executives believes the United States remains the best market for investment. Dame Emma Walmsley, CEO of GSK, revealed to the BBC that the company plans to invest $30 billion (£23 billion) in the US by the end of this decade.
This decision comes as other major pharmaceutical companies have scaled back UK projects, frustrated by NHS drug budgets and political pressures to shift production to the US. While a new deal ensures zero tariffs on UK pharmaceuticals exported to America, Walmsley confirms GSK will continue its large-scale US investments.
“The US remains the leading market globally for new drug and vaccine launches,” she said, emphasizing that alongside China, it is one of the best regions for business development. Recent trends show other companies like Merck and AstraZeneca also pausing or redirecting UK investments while focusing on US growth.
Although GSK generates just 2% of its sales in the UK, Walmsley stressed the company remains committed to research, manufacturing, and innovation in Britain. She sees the UK primarily as an exporter of life sciences innovation rather than a major domestic market.
The new US-UK deal, which guarantees zero import taxes on UK-made medicines for three years, is seen as a positive step. While it requires the NHS to pay more for drugs, Walmsley believes it will encourage innovation, pointing to GSK’s new asthma treatment that could reduce hospital admissions by 70%.
