New GSK CEO Luke Miels outlined his strategy to help the company navigate a patent cliff and get on a path toward long-term growth.
LONDON — Half a year into taking over the job, GSK CEO Luke Miels on Tuesday laid out his plans to turn the U.K. pharma giant into a more agile company with years of growth ahead.
A key step, Miels said, will be a three-year campaign to generate 1.9 billion pounds (about $2.5 billion) in annual savings by 2029, much of which will be reinvested to advance the company’s late-stage pipeline. The company also now plans to start at least 20 Phase 3 trials this year, up from the 10 that it had disclosed at the beginning of 2026.
“We are step-by-step building a set of potential best-in-class products across our core therapy areas,” Miels said, a list that includes some newer target areas — like oncology and liver disease — as well as longtime GSK focuses like vaccines and HIV. Miels would not say Tuesday how many jobs would be cut under the savings drive.