Virginia Gov. Ralph Northam announced that GlaxoSmithKline plc (LSE/NYSE: GSK), a leading global healthcare company, will invest $16.7 million to expand its consumer healthcare research and development center in the City of Richmond. GSK chose Virginia as one of three R&D laboratory hubs for their global Consumer Healthcare business and plans to add approximately 150 new jobs at the site.
“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 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.”
GSK is a science-led, global healthcare company with a special purpose: to help people do more, feel better, and live longer. With three global businesses that research, develop, and manufacture innovative pharmaceutical medicines, vaccines, and consumer healthcare products, their goal is to be one of the world’s most innovative, best performing, and trusted healthcare companies.
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 highly complementary portfolios of trusted 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.
“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.”
“The Commonwealth of Virginia and the City of Richmond provide an environment for GSK Consumer Healthcare to build leading R&D capabilities, including access to world-class talent and universities, while also offering an attractive cost of living and favorable business operating costs,” said Dr. Peter John Ramsey, PhD, Vice President and Head, GSK Consumer Healthcare R&D, The Americas.
The Virginia Economic Development Partnership (VEDP) worked with the City of Richmond and the Greater Richmond Partnership to secure the project for Virginia. Governor 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.
“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.”
“We’re incredibly excited to welcome GSK's $16.7 million investment and expansion of its research and development facilities to create over 150 jobs in the City of Richmond,” said Delegate Jeffrey Bourne. “This investment and expansion are a testament to the strength and quality of Richmond's infrastructure, workforce, and community.”