Pharmaceutical firm GlaxoSmithKline Consumer Nigeria Plc (GSK) has said it will close down its industrial plant in Agbara, Lagos state in 2021.
Zebra News understands that the company said the development will take place by the third quarter of 2021.
It noted that the plan is part of its efforts at restructuring and focusing on building “a more sustainable commercial business.”
The decision, a statement on the Nigeria Stock Exchange website noted, was approved by the company’s Board of Directors.
In addition, it noted that the closure is meant to help the company transition to contract manufacturing.
“The Board of Directors believe 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.”
This is as it added that “the identification of a suitable third party local manufacturer will be the subject of another announcement.”
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