By Joe Hoppe

 

GSK PLC said Thursday that it will invest 1 billion pounds ($1.23 billion) to accelerate research and development over the next 10 years, targeting infectious diseases that disproportionately affect lower-income countries.

The British pharmaceutical company, formerly known as GlaxoSmithKline, said the investment will focus on new and disruptive vaccines and medicines to prevent and treat malaria, tuberculosis, HIV, neglected tropical diseases and anti-microbial resistance. These account for more than 60% of the disease burden in lower-income countries, the company said.

To deliver against its targets, GSK has formed a dedicated, non-commercial global health unit, measuring success by its effects on health alone without the concern of a commercial return on investment. This includes global health research and development hubs, which are advancing more than 30 potential new vaccines and medicines, targeting 13 high-burden infectious diseases.

Shares at 1054 GMT were up 14.4 pence, or 0.8%, at 1,720.0 pence.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

June 23, 2022 07:28 ET (11:28 GMT)

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