GSK sets to shut down its manufacturing plant in Agbara

Oredola Adeola|

The management of the leading pharmaceutical and beverage company, GlaxoSmithKline (GSK) Nigeria has revealed plan to shut down its production facility located in the Agbara Industrial Estate in Ogun state, Nigeria by the third-quarter of 2021.

The company made this disclosure on Tuesday in its corporate disclosure issued to the Nigerian Stock Exchange. It said, closing the Agbara plant is part of its plan at restructuring its internal operations, adding that the company’s Board of Directors approved the plan.

The Company further revealed it plan to embark on contract manufacturing, by outsourcing its production to local contract manufacturers for the supply of the company’s drugs and other pharmaceutical products.

It said, “ GSK’s restructuring would support the building of local expertise, transfer of technical knowledge and improve local production capacities in the country.

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

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 however disclosed that the restructuring plan will affect its commitment to global health issues in Nigeria and elsewhere. It assured investors that it would continue to be listed on the Nigerian Stock Exchange.

The management disclosed that its Agbara plant will remain functional until the third quarter of 2021, while it will shift attention to identify suitable local contract manufacturer that would handle its production.

Recall that in 2016, GSK sold it beverage unit in the Agbara Plant to Suntory Beverage & Food Nigeria Ltd, a subsidiary of Suntory Beverage and Food Limited (“SBF”) of Japan, for the bottling and distribution of Ribena, Lucozade.

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