Britain’s GSK on Wednesday became the latest pharmaceutical firm to commit bumper investment into the U.S., as President Donald Trump is in the U.K. for a three-day state visit.

The drug maker committed to investing at least $30 billion in U.S. research and developing (R&D) and manufacturing over the coming five years.

The investment includes $1.2 billion toward advanced manufacturing, AI and advanced digital technologies to deliver “next-generation biopharma factories and laboratories in the United States,” the drug maker said.

The investment commitment comes as President Donald Trump is in the U.K. for a three-day state visit.

“This week’s State Visit brings together two countries that have led the world in science and healthcare innovation. We are proud to be part of both,” GSK CEO Emma Walmsley said in a statement.

“Today, we are committing to invest at least $30 billion in the United States over the next 5 years, further bolstering the already strong R&D and supply chain we have in the country,” she added.

A number of global pharma firms have been ramping up their U.S. investments amid pressure from the Trump administration to bolster U.S. manufacturing and lower domestic drug prices.

AstraZeneca in July announced plans to invest $50 billion in U.S. manufacturing and research capabilities by 2030, following a slew of commitments from companies including Novartis, Sanofi and Roche, and U.S.-headquartered Eli Lilly and Johnson & Johnson.

GSK’s $1.2 billion commitment to advanced manufacturing is set to include the construction of a new biologics factory in Pennsylvania to produce respiratory and cancer medicines, the company said, as well as the addition of advanced digital technology capabilities across GSK’s existing five manufacturing sites in Pennsylvania, North Carolina, Maryland, and Montana.

The wider funding is also due to go toward capital investments across GSK’s U.S. supply chain and increased investment in R&D drug discovery and development and clinical trial activity, it added.

Trump’s state visit has turned out to be a lucrative affair, with a number of firms including Microsoft, Nvidia, Google, OpenAI and Salesforce this week announcing multibillion-dollar artificial intelligence investments in the U.K. in a symbol of strengthened transatlantic ties.

This is a developing story. Please check back for updates.

The U.K.’s annual inflation rate was steady at 3.8% in August, according to data released by the Office for National Statistics (ONS) on Wednesday.

Economists polled by Reuters had expected inflation to reach 3.8% in the twelve months to August.

August core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, rose by an annual 3.6%, down from 3.8% in the twelve months to July.

“The cost of airfares was the main downward driver this month with prices rising less than a year ago following the large increase in July linked to the timing of the summer holidays,” the ONS’ Chief Economist Grant Fitzner said on the X social media platform.

“This was offset by a rise in prices at the pump and the cost of hotel accommodation falling less than this time last year.”

Food price inflation climbed for the fifth consecutive month, the ONS noted, with small increases seen across a range of vegetables, cheese and fish items.

The data comes after the consumer price index hit a hotter-than-expected 3.8% in July, exceeding forecasts.

Finance Minister Rachel Reeves commented that she recognized that “families are finding it tough and that for many the economy feels stuck. That’s why I’m determined to bring costs down and support people who are facing higher bills.”

Pound sterling was slightly lower against the dollar after the data release, at $1.3637.

The Bank of England is closely watching inflation data after forecasting the consumer price index could peak at 4% in September, before retreating in the early half of 2026.

The central bank cut interest rates in August, taking the key rate from 4.25% to 4%, and saying it would take a “gradual and careful” approach to monetary easing, mindful of inflationary pressures but aware of the need to promote growth and investment.

It next meets on Thursday, but it is not expected to adjust rates this month, and there’s uncertainty as to whether it could cut in November.

Sticky inflation is restricting the opportunity for a fourth rate by the BOE this year, Scott Gardner, investment strategist at J.P. Morgan-owned digital wealth manager, Nutmeg, commented Wednesday.

“While wage growth has fallen in recent months, more progress is required on the inflation front to convince the Bank’s policymakers that a further rate cut is possible in the current economic environment. A fourth rate cut in 2025 will require further labour market weakness, a somewhat pyrrhic victory,” he said in emailed comments.

“With forecasts suggesting inflation could rise even further in the short-term and hit 4% going into the autumn, the cost-of-living strain on household finances will persist in the months ahead,” Gardner said, adding that “in short, already sticky inflation is likely to get stickier.”

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