In a modest lab at its Stevenage campus, GSK scientists are screening molecules that could become the next generation of cancer medicines. The effort marks a sharp reversal from the 2010s, when former chief executive Sir Andrew Witty dismantled the group’s oncology unit. New CEO Luke Miels, who helped broker the 2018 $5.1bn acquisition of Tesaro, is now steering the rebuild.

Since the Tesaro deal gave GSK access to Zejula and Jemperli, which together generated £1.4bn in sales last year, the company has layered external buys with internal research. A 2022 $1.9bn purchase of Sierra Oncology and a 2023 licensing pact with Hansoh Pharma worth up to $1.5bn have expanded the pipeline to more than a dozen candidates, including Mo‑Rez and Ris‑Rez advancing to phase‑3 trials.

Chief scientific officer Tony Wood frames oncology as essential to hitting GSK’s £40bn sales target for 2031, a goal that would lift the specialty medicines division—currently £13.5bn—to half its revenue. Analysts see the burgeoning pipeline as undervalued, forecasting Mo‑Rez could peak at $2bn annually. GSK’s blend of biotech deals and novel platforms positions it to compete despite the high‑cost, crowded market.