The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.20 - Manufacture of pharmaceutical preparations
200 jobs Number of planned job losses
Announcement Date
8 February 2016
Employment effect (start)
Foreseen end date
31 March 2016
Description
British Group GlaxoSmithKline (GSK) is to close its local factory Europharm in Brasov in March 2016. As a result 200 employees will lose their job. The group announced that the redundant employees will receive severance packages and support to find a new job. Some of the production may be transferred to Spain and Poland.
GSK had announced last year its intention to sell the plant due to over-production in the solid oral formulas.
The plant was set up in 1994 and manufactured drugs for the treatment of HIV/AIDS, respiratory disease, depression, the flu/anti-inflammatory. Later in 1996 the British Group acquired 65% stake in the Romanian factory and the remainder 35% in 2003.
Sources
12 June 2014: România Liberă
29 September 2015: bizbrasov.ro
8 February 2016: Ziarul Financiar
Citation
Eurofound (2016), Europharm, Closure in Romania, factsheet number 86507, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86507.
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