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Cash will become obsolete and this will be the result of digital finance advancement»
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Drugs factory in Brasov to close

British group GlaxoSmithKline (GSK) announced in late June that it is to close the Europharm factory in Brasov

July 2013 - From the Print Edition

..., which last year had a turnover of EUR 104 million and profit of EUR 11 million, due to production overcapacity at group level, according to Ziarul Financiar. The Brasov factory is the second biggest domestic producer of drugs by turnover in 2012 and is the only one the GSK group is closing. "The decision comes following a wave of expired patents which led to a capacity excess of solid oral forms," said Pascal Prigent, general manager of GSK Romania. The factory was also one of the largest pharmaceutical exporters, with 60 percent of products being exported in 2011, to about 80 states. In Brasov, GSK has transferred the production of drugs such as the antidepressant Seroxat and Retrovir for the treatment of HIV/AIDS. Europharm is the first drug factory in Romania to be closed.



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