Report summary

Wellcome Annual Report 2019

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Each year, usually in December, Wellcome publishes an Annual Report. It includes reports from the Chair and Director, commentary on strategies and activities during the year, and reviews of our finances and investments.

What's inside

  • Reports and financial statements relating to the year from 1 October 2018 to 30 September 2019  

Who this is for

  • Anyone interested in how Wellcome makes money, how we spend it, and what impact our activities have in our mission of improving health


  • In 2018/19, Wellcome spent £1.1 billion supporting researchers, taking on big health challenges, campaigning for better science, and helping everyone get involved with science and health research.
  • Wellcome’s investments generated a 6.9% return (4.9% after inflation), taking the total value of our investments portfolio to £26.8 billion.
  • Sir Peter Ratcliffe, a clinician scientist funded by Wellcome for 30 years, shared the 2019 Nobel Prize for his research on how cells adapt to different levels of oxygen in the body.
  • Research showed that a vaccine, developed by a team at the Malawi-Liverpool-Wellcome Trust Clinical Research Programme, contributed to a 34% reduction in child deaths from diarrhoeal disease caused by rotavirus infection.
  • Wellcome Global Monitor was the world’s largest ever study to try to understand how people around the world think and feel about science and major health challenges, presenting an unprecedented view of the relationship between science and society worldwide.
  • Being Human, a new permanent gallery, opened at Wellcome Collection to explore trust, identity and health in a changing world.
"This is what makes Wellcome such an exciting organisation: we see glimpses of how the world’s health could be transformed in a few years, a decade, or even a century from now."
Eliza Manningham-Buller, Chair of Wellcome


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