GSK agrees to sell its Cork manufacturing site to Thermo Fisher Scientific
16 May 2019
GSK and Thermo Fisher Scientific announced today that they have signed a definitive agreement under which Thermo Fisher will acquire GSK’s Cork operations. The sale will see the ownership of GSK’s Cork manufacturing site, including all facilities, business operations and approximately 400 commercial manufacturing and R&D 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 for pharma and biotech companies of all sizes.
Commenting on the sale, GSK Cork Site Director Mike O’Sullivan said, “We believe this acquisition offers a more sustainable future for the Cork site and our highly talented employees. GSK has been in Cork for more than 40 years, so we recognise that today is a signficant day for everyone at the site. Our employees can be extremely proud of the contribution they have made to millions of patients’ lives all over the world through their work for GSK. We are confident that today’s announcement creates certainty and stability for the site and its employees. Due to strategic changes in the GSK portfolio and emerging pipeline, the Cork site had been significantly underutilised and 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.”
“We look forward to welcoming the GSK Cork employees to Thermo Fisher Scientific,” said Patrick Glaser, president of the drug substance business within Thermo Fisher’s Pharma Services business. “We share a commitment to develop medicines that improve the lives of patients and their families. 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.”
Commenting specifically on the integration plans, GSK’s Mike O’Sullivan said, “Our immediate priority is to consult with, listen to and support our employees through the transition period. We will be working together with Thermo Fisher Scientific to achieve a smooth integration. We currently expect to complete the transaction by the end of the year, while ensuring our fundamental business runs safely and efficiently in tandem. We are also clear that GSK remains the owner with absolute responsibility for operations until completion of the sale.”
Today’s announcement does not impact any of GSK’s other businesses or interests in Ireland.