The company had announced last year its intention to sell the plant due to over-production in the solid oral formulas, adding this was a group decision. GSK said in a statement it went through a “rigorous process” to sell the plant but did reach any agreement with the potential bidders. The drugsmaker will slash 236 manufacturing jobs following this decision.
The plant in central Romania was set up in 1994 and manufactured drugs for the treatment of HIV/AIDS, respiratory disease, depression, the flu/anti-inflammatory. GSK fully acquired Europharm, the company that operated the plant from Romanian businessperson Mihai Miron in 2003.
Barbara Cygler, general manager of GSK Romania, said the company remains “dedicated” to the local market, and will invest between EUR 8 million and EUR10 million in research and development. The company employs locally over 600 people in the pharma, consumer healthcare and distribution divisions.
GSK Romania reported first quarter sales of RON 130 million, according to Cegedim, the provider of data for the pharmaceuticals sector. (source: business-review.eu)