Drug firm looks at recruiting
UK drugs company GlaxoSmithKline may hire staff made redundant by Pfizer and has hinted that a £50 million pot could be available to staff who want to set up on their own.
Chief executive Andrew Witty ruled out buying the Sandwich facility but said the company might look to take on "high calibre people."
He also said small pharma businesses could look to take advantage of Glaxo's £50million fund for new start-up biotechs. The venture fund, set up last year, could be available for "spin off" projects, he said last Friday.
Mr Witty added: "Clearly that fund will also look and see whether or not there are things which could be spun out of that operation or may be teams of scientists who want to create their own company. If it is a compelling case, then that fund is there to do exactly that kind of thing."
