GSK announces major new commitment to Asia
GlaxoSmithKline (GSK) is strengthening its presence in Singapore by establishing a new global headquarters for Asia; further expanding its commitment to patients and consumers in the region, the company announced today.
GSK has signed an agreement with Boustead Development Partnership joint venture entity to develop and lease a new building which will be the company’s new global headquarters for Asia. Located at the ‘one-north’ development in the Rochester Park area of Singapore, GSK will move all employees currently based in Gateway West to the new headquarters during the second half of 2017 once the site is fully fitted.
Sir Andrew Witty, CEO, GSK, said: “GSK and Singapore’s histories are entwined. Since building our first site at Quality Road in 1972, we have continued to significantly expand our footprint, capability and talent base. In our experience and my own personal experience, Singapore excels in fostering talent, supporting business growth and offers an excellent base to access Asia. This is why we are making a significant decision to further increase our presence in Singapore as we continue to modernise and advance GSK.”
The Consumer Healthcare, Pharmaceuticals and Vaccines markets are forecast to grow significantly faster in countries covered by the global headquarters for Asia* than in the rest of the world. The new global headquarters for Asia will support local GSK businesses across the region by providing the relevant leadership, expertise, capability and services to make the right decisions for our company, patients and consumers.
Congratulating GSK at the opening, Dr. Beh Swan Gin, Chairman of the Singapore Economic Development Board, said: "Singapore is heartened that GSK chose Singapore as the home for its global headquarters for Asia and has decided to establish a new headquarters building here. Its decision is testimony to our value proposition as a trusted biomedical sciences hub, where companies can access global talent and build strategic capabilities to spearhead their growth in the region.”
The new global headquarters for Asia will help the company attract and develop the best people to drive innovation and access across the region, ensuring appropriate patients and consumers are able to benefit from GSK medicines, vaccines and products.
The eight-storey, nearly 15,000 square metres facility will have capacity for up to 1,000 employees across GSK’s Pharmaceuticals, Vaccines and Consumer Healthcare businesses. Key leadership and Asia expertise is already transitioning into the region with almost 150 global or regional roles moving to Singapore in the last year. GSK has over 700 office-based employees in Singapore and expects an additional 100 roles to move into the country as the headquarters nears completion.
GSK has been present in Asia for over 40 years. The new global headquarters for Asia will have a full range of corporate capabilities allowing key decisions for Asia to be taken within the region by people who have extensive experience of working in this continent. Construction is expected to be complete by the end of 2016.
Notes to editors:
- * Global Pharmaceuticals will transition to supporting all countries east of (and including) Turkey, but excluding Russia, from the new global headquarters for Asia (i.e. the Middle East North Africa/Commonwealth of Independent States region, India, South Asia, South East Asia, China, Japan, Australia and New Zealand). GSK Consumer Healthcare will support the Asia, Middle East and Africa region from the new global headquarters for Asia in Singapore.
- GSK has a significant presence in Singapore with 1,600 employees working across three manufacturing facilities (Quality Road, Jurong and Tuas), R&D partnerships and commercial operations for all three core businesses (Pharmaceuticals, Vaccines, Consumer Healthcare).
- GSK is partnered with the Singapore Economic Development Board on a range of programmes across education, research, manufacturing and talent development to help create sustainable economic growth, vibrant business and good job opportunities for Singapore.
GSK – one of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com.
Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2014.