British pharmaceuticals giant GlaxoSmithKline (GSK) is pulling the plug on its pharmaceutical business in Bangladesh citing ‘commercial unsustainability’.
The GSK Bangladesh board of directors is proposing the closure following a business review and expecting to complete the process by the end of this year, reports bdnews24.com on Thursday citing a statement.
The Bangladesh entity of the firm will continue its ongoing consumer healthcare business which is not impacted by the changes in the pharmaceutical operations, it said.
The firm pledged ‘appropriate support’ to over 1,000 of its employees at ‘this very challenging time’.
GSK Vaccines, which are purchased via the UN’s wing for children UNICEF and funded by Gavi, the Vaccine Alliance, will continue to be available in Bangladesh, it added.
It will hold a news briefing on the closure in Dhaka on Friday, said GSK Bangladesh Head of Communications Rumana Ahmed.
