Janssen and Bayer will join several global pharma companies that have pulled their manufacturing facilities out of Korea.
Why Bayer cited the shrinking domestic market as a reason for the shutdown, Janssen says it's a matter of efficiency — its manufacturing network for solid dosage forms was found to have significant excess capacity.
Janssen Korea will close its Hyangnam plant in Hwaseong, Gyeonggi Province — built in 1983 — by the end of 2021.
Bayer will close its contrast agent manufacturing facility in Anseong, Gyeonggi Province, by the end of this year and move it to Germany.
According to the Korea Times, including the Bayer and Janssen factories, drugmakers have closed 16 Korean factories over the past 20 years. Most of the companies moved their plants to China and Southeast Asian countries.