Stock Market News

GSK to close its Kenya production plant with loss of jobs – report

2022.10.13 04:51

[ad_1]


© Reuters. FILE PHOTO: GSK (GlaxoSmithKline) logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic

NAIROBI (Reuters) – Britain’s GSK will close its production facility in Kenya with the loss of an unspecified number of jobs, the Business Daily newspaper reported on Thursday.

The pharmaceutical major joins other global firms like Unilever (NYSE:), which have shut production in the East African nation in recent years because of high costs, such as for electricity.

GSK will shift to a third-party distribution of its products in Kenya from next year, the newspaper reported, citing information provided by the firm.

GSK did not respond immediately when Reuters sought to confirm the plan. Some of the firms that stopped producing in the Kenyan market opted to supply it from plants elsewhere on the continent like Egypt, Nigeria or South Africa.

[ad_2]

Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 103,822.82 1.52%
ethereum
Ethereum (ETH) $ 2,595.35 2.49%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.43 0.58%
bnb
BNB (BNB) $ 653.89 0.46%
solana
Solana (SOL) $ 172.97 1.92%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.227806 2.61%
cardano
Cardano (ADA) $ 0.780269 2.97%
tron
TRON (TRX) $ 0.272354 0.60%
staked-ether
Lido Staked Ether (STETH) $ 2,597.65 2.82%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,750.80 1.33%
sui
Sui (SUI) $ 3.90 5.35%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,132.09 2.82%
chainlink
Chainlink (LINK) $ 16.25 0.96%
avalanche-2
Avalanche (AVAX) $ 23.79 1.12%
stellar
Stellar (XLM) $ 0.29955 2.32%
hyperliquid
Hyperliquid (HYPE) $ 27.26 10.68%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 2.14%
hedera-hashgraph
Hedera (HBAR) $ 0.200917 1.87%
leo-token
LEO Token (LEO) $ 8.85 0.75%
bitcoin-cash
Bitcoin Cash (BCH) $ 397.84 2.61%
the-open-network
Toncoin (TON) $ 3.15 2.73%
litecoin
Litecoin (LTC) $ 101.16 4.62%
polkadot
Polkadot (DOT) $ 4.92 3.79%
usds
USDS (USDS) $ 1.00 0.00%
weth
WETH (WETH) $ 2,596.55 2.33%
pi-network
Pi Network (PI) $ 0.919055 4.16%
monero
Monero (XMR) $ 340.19 0.28%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,776.18 2.63%
bitget-token
Bitget Token (BGB) $ 5.00 3.34%
pepe
Pepe (PEPE) $ 0.000014 1.92%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.16%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.04%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 103,930.85 1.60%
whitebit
WhiteBIT Coin (WBT) $ 30.27 0.06%
bittensor
Bittensor (TAO) $ 441.57 3.37%
uniswap
Uniswap (UNI) $ 6.31 0.56%
dai
Dai (DAI) $ 1.00 0.02%
aave
Aave (AAVE) $ 236.88 6.90%
near
NEAR Protocol (NEAR) $ 2.90 1.67%
aptos
Aptos (APT) $ 5.41 0.17%
okb
OKB (OKB) $ 53.90 1.28%
kaspa
Kaspa (KAS) $ 0.121075 5.01%
ondo-finance
Ondo (ONDO) $ 0.979208 1.09%
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 208.00 2.70%
tokenize-xchange
Tokenize Xchange (TKX) $ 36.90 4.87%
crypto-com-chain
Cronos (CRO) $ 0.101233 0.36%
internet-computer
Internet Computer (ICP) $ 5.42 0.98%
ethereum-classic
Ethereum Classic (ETC) $ 19.04 0.89%