GlaxoSmithKline announces date for closure of Agbara factory, gives reasons
The management of GlaxoSmithKline Nigeria Plc has announced its intention to shut down the company’s factory in Agbara, Ogun State.
In a notice to the Nigerian Stock Exchange (NSE) on Tuesday, the pharmaceutical firm explained that this is part of its restructuring programme.
GSK Nigeria stated further that ahead of the closure expected in the third quarter of 2021, the company will source for a “suitable third party local manufacturer” to handle some of its productions.
Already, the board of the firm has approved a change in its supply chain model effective Q3 2021.
“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.
“This restructuring, which would be effective in Q3 2021, involves working with local contract manufacturers for the supply of GSK’s products, where possible.
Continuing, the company explained that there is a strong belief that these changes will allow GSK to build a more sustainable commercial business, enabling it to continue with its ongoing efforts in supporting access to GSK’s consumer health products, medicines and vaccines.
“Upon the successful transition of locally manufactured products to third-party contract manufacturing, the current GSK production operations in Agbara would be closed by Q3 2021.
“The identification of a suitable third party local manufacturer would be the subject of another announcement. Until then, it would be business as usual at the Agbara factory as GSK continues to ensure supply continuity for all its locally manufactured brands,” the firm said.
However, GSK Nigeria stressed that, “These proposed changes do not impact GSK’s broader commitments to global health in Nigeria and across Africa.”
“GlaxoSmithKline Consumer Nigeria Plc will continue to be listed on the Nigerian Stock Exchange (NSE),” it maintained.