Drug giant GSK to cut costs and ramp up new medicines as key HIV drug faces generic competition

GSK will cut £1.9bn in yearly costs by 2029 and test at least 20 new medicines in 2026, double its earlier goal. Patents on its biggest HIV drug, about a fifth of sales, expire between 2028 and 2030, allowing cheaper copies. CEO Luke Miels targets over £40bn in revenue, and expects profits to hold steady.