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The global healthcare company will invest $16.7 million investment to expand its research and development operation in Richmond, VA.
GlaxoSmithKline
plc (GSK) will invest $16.7 million to expand its consumer healthcare
research and development center in the City of Richmond, VA. The global
healthcare company chose Virginia as one of three R&D laboratory
hubs for its global Consumer Healthcare business and plans to add
approximately 150 new jobs at the site.
In
August 2019, GSK announced the completion of its transaction with
Pfizer to combine consumer healthcare businesses into a world-leading
consumer healthcare joint venture, which will be the largest
over-the-counter healthcare company in the world.
The joint venture
brings together two portfolios of consumer health brands, including
GSK’s Sensodyne, Voltaren, and Panadol and Pfizer’s Advil, Centrum, and
Caltrate. The existing R&D facility in the City of Richmond,
formerly the Global R&D headquarters for Pfizer Consumer Healthcare,
will be operated by the new consumer healthcare joint venture.
“We
are extremely proud that GSK will make a major investment in the City
of Richmond and continue to grow its footprint in Virginia,” said
Governor Ralph Northam.
“The greater Richmond region has emerged as a
hub for leading biosciences companies, offering world-class education
institutions, research assets, and a pipeline of skilled talent, and
GSK’s consumer healthcare joint venture and expansion will further its
position as a powerhouse in this industry. We thank GSK for its
commitment to our Commonwealth, and stand ready to support the company’s
success.”
The Virginia Economic Development Partnership
(VEDP) worked with the City of Richmond and the Greater Richmond
Partnership to secure the project for Virginia. Gov. Northam approved a
$675,000 grant from the Commonwealth’s Opportunity Fund to assist the
City of Richmond with the project.
Support for GSK Consumer Healthcare’s job creation will be provided through the Virginia Talent Accelerator Program,
a new workforce initiative created by VEDP in collaboration with the
Virginia Community College System, with funding support from the Northam
administration and the Virginia General Assembly.
Launched in 2019, the
program accelerates new facility start-ups through the direct delivery
of recruitment and training services that are fully customized to a
company’s unique products, processes, equipment, standards, and culture.
All program services are provided at no cost to qualified new and
expanding companies as an incentive for job creation. GSK Consumer
Healthcare represents the second company to benefit from the Virginia
Talent Accelerator Program.
“GSK is an important,
long-term employer in the City of Richmond, and this major investment
and expansion will further the company’s portfolio of important consumer
healthcare products and ensure this operation’s continued viability in
Richmond,” said Secretary of Commerce and Trade Brian Ball.
“Life
sciences is a booming sector in the Commonwealth thanks to cutting-edge
corporate partners like GSK, and we look forward to the company’s
continued growth in Richmond.”
“GlaxoSmithKline
Consumer Healthcare’s strategic decision to invest $16.7 million and add
over 150 jobs to expand its research and development presence in
Richmond speaks to the city’s strength as an international destination
for business and life sciences,” said City of Richmond Mayor Levar
Stoney.
“Our city is a great place to live, work, and play and we thank
GlaxoSmithKline Consumer Healthcare for continuing to invest and grow in
Richmond.”
from BusinessFacilities.com