Global Healthcare company GSK has reassured staff that there will be no job losses at its Cork plant in spite of an agreement to sell the site to Thermo Fisher Scientific.
The sale will see the ownership of GSK’s Cork manufacturing site, including all facilities, business operations and approximately 400 employees transfer to Thermo Fisher, subject to the appropriate regulatory clearances.
Under Thermo Fisher’s ownership, the site will continue to support GSK as a key customer.
Thermo Fisher is a leading contract development and manufacturing organization (CDMO) for the pharmaceutical industry, offering services ranging from drug development to clinical trials to commercial manufacturing.
GSK Cork Site Director, Mike O’Sullivan, said that the acquisition offers a more sustainable future for the site and their highly talented employees.
“GSK has been in Cork for more than 40 years, so we recognise that today is a significant day for everyone at the site.
Mr O’Sullivan said due to strategic changes in the GSK portfolio and emerging pipeline, the Cork site had been significantly under-utilised.
He said that it became clear that the site was no longer a competitive fit within GSK’s manufacturing network.
“As well as providing immediate certainty, furthermore, we believe the sale will leave the site well positioned for future growth and development.”
Patrick Glaser, president of the drug substance sector within Thermo Fisher’s Pharma Services business said becoming part of Thermo Fisher will ensure a “bright future for the employees that have contributed so much to the success of GSK over the years.”
Today’s announcement does not impact any of GSK’s other businesses or interests in Ireland.