Market demand rises, Novartis delays closure of UK pharmaceutical factory

Swiss pharmaceutical company Novartis's pharmaceutical plant in Grimsby, UK, will postpone closure.

The management of the pharmaceutical factory stated that they plan to continue to produce two products with rising market demand until the end of next year.

Earlier, Novartis announced that the plant plans to close one of its plants from April and gradually close the remaining facilities by the end of this year.

The pharmaceutical giant pointed out that the decision to postpone closing the Grimsby factory was determined by the current changing medical needs.

It also added that it is still looking for buyers at the plant.

Novartis is also merging the API business elsewhere and is currently reducing the size of a factory in Ireland. In order to move to high-margin cell and gene therapy and other specialty drugs, to get rid of traditional drugs and generic drugs, the company has already begun selling raw material and preparation production facilities.

Vas Narasimham, CEO of Novartis, said: "We are also advancing procurement and production work, and are also effectively reducing excess existing inventory, while also more actively carrying out data and digital deployment throughout the production network.