GlaxoSmithKline will be closing its drug manufacturing operations in Bangladesh by the end of this year and will remain only with its healthcare business that produces Sensodyne, Horlicks and Glaxose-D. GSK’s pharmaceuticals business has been somewhat slow throughout the world for the past couple of years and last Wednesday, the company revealed a new restructuring program to deliver annual savings of 400 million pounds by 2021.

Nakibur, the Managing Director of GlaxoSmithKline confirmed that the company’s decision would affect around 1000 employees. GSK Bangladesh will be seeking the nod of shareholders for a final decision. Nearly 12 percent of stakes in GlaxoSmithKline is owned by the state-run Investment Corporation of Bangladesh, whereas only 6 percent of the shares are held by both public and varied institutions.

Nakibur, MD of GlaxoSmithKline said, “All of our medicines are substitutable with generic and therefore patients should be able to access a range of suitable alternatives.” Instead of elaborating further, Nakibur stated, “GSK will run pharmaceuticals in our emerging markets region as an integrated operation, putting in place the right commercial structure in markets to deliver a sustainable growth ambition.”