The management of the leading pharmaceutical company, GlaxoSmithKline (GSK) Nigeria says it plans to shut down its production facility located in the Agbara Industrial Estate in Ogun state, Nigeria by the Q3 2021.

According to the company, closing the Agbara plant is part of its plans at restructuring its internal operations.

This was stated in its corporate disclosure issued to the Nigerian Stock Exchange, today saying the company’s Board of Directors approved the plan.

GSK stated that it will transition to contract manufacturing. This means that the pharmaceutical company will work with local contract manufacturers for the supply of the company’s drugs and other pharmaceutical products. GSK’s restructuring would support the building of local expertise, transfer of technical knowledge and improve local production capacities in the country, said its management.

It will also enable the company to focus on the commercial aspect of its business, which basically involves “supporting access to GSK’s consumer health products, medicines, and vaccines.”

Following an extensive review of its product supply operation, the Board of Directors has approved a restructuring of GSK’s current operating model to better serve the Nigerian patients and consumers. The restructuring, which will be effective in Q3 2021, involves working with local contract manufacturers for the supply of GSK’s products, where possible. This will support the building of local expertise, transfer of technical knowledge, and improve local production capacities in the country.

However, part of the statement issued to the NSE said: “the identification of a suitable third party local manufacturer will be the subject of another announcement.”

GlaxoSmithKline Nigeria says the restructuring will affect its commitment to global health issues in Nigeria and elsewhere. It will also continue to be listed on the Nigerian Stock Exchange. Its Agbara plant will remain functional until the third quarter of 2021, by which time a suitable local contract manufacturer would have been found.

SOURCE: https://brandspurng.com/2019/04/02/glaxosmithkline-nigeria-is-shutting-down-its-agbara-plant-the-company-explains-why/

Next level things.
Too early for this I hope it won't be a trend because Nigeria have lost too many companies the past few years to Ghana who have a much more favorable environment to extablish a business in terms of security, electricity and quality cheap labour

So, the restructuring (Working with local contract manufacturers) will better serve Nigerians wen the major plant wud b shut down....hmmmm...They sud just tell us d truth dat d environment is no longer favourable.

This mudafckrs are going to a nearby country to setup their plant.

Next Level of job losses.

They are clearly pulling out of the Nigerian market and handing over their market structure to Indian marketers like WWCV to import and distribute their drugs from other markets . Buhari has finished this country

Bubu! Next level.

GSK plant have been making losses in the past years, especially the Agbara plant due essentially to bad APC government policies. Shutting down by 2021 is a benevolent gift to the employees actually. The company541. had earlier sold most of their consumer products to Aspen and Suntory. Horlicks appears to be going to Unilever or Nestle. Only Panadol and oral care were being managed out of Agbara. The business environment and APCpolicies are not helping corporate entitles.

With Buhari Next Level, more companies will shutdown. This government is a joke. Unfortunately, Osinbajo is running around deceiving Nigerians who still vote APC.

Amitez:
GSK plant have been making losses in the past years, especially the Agbara plant due essentially to bad APC government policies. Shutting down by 2021 is a benevolent gift to the employees actually. The company541. had earlier sold most of their consumer products to Aspen and Suntory. Horlicks appears to be going to Unilever or Nestle. Only Panadol and oral care were being managed out of Agbara. The business environment and APCpolicies are not helping corporate entitles.

With Buhari Next Level, more companies will shutdown. This government is a joke. Unfortunately, Osinbajo is running around deceiving Nigerians who still vote APC.

How many companies shut down under PDP led govt?

raumdeuter:


How many companies shut down under PDP led govt?

when I told coneheads that best form of industrialization is indigenous, they were jumping up when GlaxoSmithKline open newly in Ogun, now they are closing, many have left Nigeria with their technologies no indigenous partner was able replicate their products brands

sherylbakky:
So, the restructuring (Working with local contract manufacturers) will better serve Nigerians wen the major plant wud b shut down....hmmmm...They sud just tell us d truth dat d environment is no longer favourable.

They’re just trying to sugarcoat the bitter pill so it’s easier for us to swallow!