Glaxo on pole position to cash in on F1

Drugs heavyweight GlaxoSmithKline is to “rev up” its research and manufacturing operations through a tie-up with Formula 1 team McLaren.

The five-year partnership will see the two firms build a £20 million research facility at McLaren’s headquarters in Woking, Surrey, with Glaxo sharing the F1 group’s expertise in engineering, analytics and modelling.

Andrew Witty, chief executive of Glaxo, said the partnership brought together two British companies that needed to innovate and respond to change.

Ron Dennis, McLaren’s executive chairman, said the intention of the partnership – its first with a major pharmaceuticals group – is for Glaxo to use Formula 1 technology across a wide variety of its divisions. A programme is being evaluated to apply McLaren’s engine modelling system to Glaxo’s manufacturing processes to reduce breakdowns and improve customer service.

Analytical tools will also be developed to help decide where and how much to invest in Glaxo’s brands, that include Lucozade, Panadol and Sensodyne.

The F1 group will earn a consultancy fee from the arrangement.