Glaxo opens new €30m facility
THE success of an Irish-produced denture fixative has prompted GlaxoSmithKline to open a new €30m manufacturing facility in Cork.
The global pharmaceutical company, one of the largest in the world, has opened the state-of-the-art plant at its existing site in Curabinny, Co Cork.
About 20 full-time jobs will be created once the operation is up and running.
The new unit will produce Gantrez, a key ingredient in popular denture fixative Poligrip, which is also manufactured by Glaxo at its consumer healthcare facility in Dungarvan, Co Waterford. This is the first major collaboration between the two sites.
The company's Cork director, Finbar Whyte, said the new facility was strong evidence of Cork and Dungarvan's importance to Glaxo's manufacturing network, and would "greatly help secure existing employment at GSK in Ireland into the future".
The news is particularly welcome given that Glaxo recently announced 94 job losses at its Cork shared-services operation and 14 more cuts at its Dublin-based commercial unit.
The company, the maker of Panadol and cigarette alternative NiQuitin, still employs around 1,600 people in Ireland and is one of the country's largest multinational employers.
It is undergoing a European-wide restructuring programme in an attempt to reduce costs by at least €1.2bn a year by 2016.
More positively, the company has said sales and profits will rise in 2013 as it prepares to launch six new drugs.