GlaxoSmithKline Consumer Nigeria Plc now referred to as GSK, has announced plans to shut down operations in Nigeria after 51 years. This development was disclosed in a press statement signed by Company Secretary Frank Ichekwai which was issued on Thursday 2nd August 2023 and filed with the Nigerian Exchange Limited. The Group has hinted that government policies on foreign exchange unification keep creating currency problems for the manufacturing sector, with dollar scarcity taking its toll on production. GSK Nigeria which currently employs over 290 people, assured that all necessary legal proceedings would be met as regards employees and shareholders.
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GSK plc, (an acronym from its former name GlaxoSmithKline plc,) is a British multinational pharmaceutical and biotechnology company with global headquarters in London. Established in 2000 by a merger of Glaxo Wellcome and SmithKline Beecham, GSK is the tenth largest pharmaceutical company and #294 on the 2022 Fortune Global 500. GlaxoSmithKline Consumer Nigeria Plc was incorporated in Nigeria on 23rd June 1971 and commenced business on 1st July 1972, under the name Beecham Limited. Its Head office is located at 1 Industrial Avenue, Ilupeju, Lagos.The company is well known for its products such as Augmentin, Neosporin, Panadol, Sensodyne, Advair, Ventolin, Theraflu, among others.
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