After an unexpected failture to sell, GlaxoSmithKline has announced it will be closing its Europharm factory in Brasov, Romania, transferring operations to Poland and Spain by the end of 2015.
The decision to sell or close the plant was made last year following a wave of expired patents which led to an excess of capacity for solid oral drugs.
GSK announced last June that it was looking for a buyer for the Brasov facility, which employs about 250 people in the manufacturing of drugs for HIV/AIDS, respiratory diseases, depression, cold and flu. That following September, GSK reportedly received several offers from local and international investors.
"All this time we have made sure to thoroughly carry out a search for potential buyers and that each and every opportunity has been carefully reviewed, both for employees and for the plant. Unfortunately, GSK is not in the position to agree on a viable solution with any of the interested parties,” GSK said in a recent press release.
Read the Govnet press release