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Closure of Grimsby pharmaceutical factory delayed

Closure of Grimsby pharmaceutical factory delayed

Closure of Grimsby pharmaceutical factory delayed

The planned closure of Grimsby pharmaceutical factory, owned by the Novartis firm, has now been delayed until the end of the year, it has been confirmed.

Managers have said that they plan to extend the manufacture of two products at the factory until the end of next year due to an increase in demand.

Novartis previously announced in 2018 that it would be closing its Grimsby plant by 2020.

However, it said the decision to delay the closure was reflective of today’s changing healthcare needs.

A buyer for the plant is still being sought, the firm added.

It is expected that around 400 jobs will be lost in the closure, if they are not taken on by the new site owner.

Taskforce members made up of workers, local officials and Novartis met today for an update on how the closing process will proceed if a buyer does not materialize in time.

In 2018, Novartis said half-a-dozen companies had sized up the site for a possible purchase but nothing has been announced since.

One of their sites in Ireland is also being downsized, as the firm consolidates its active pharmaceutical ingredient operations elsewhere.

Novartis have already begun to selling off bulk and formulation manufacturing facilities as it shifts to high-margin specialized drugs like cell and gene therapies and away from older meds and generics.

Novartis CEO Vas Narasimham said:

“We also are advancing our efforts in procurement and manufacturing, and are really reducing the excess inventories that we’re holding and also deploying data and digital much more aggressively across the manufacturing network.”

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