GSK Pharma shuts its consumer trade channel, impacting around 200 employees
Mumbai: In a significant restructuring move, with an aim to cut costs, the pharmaceutical giant, GSK Pharma has decided to terminate its consumer trade channel (CTC) operation, affecting roughly 200 people spread out across cities.
In accordance with the sources cited by TOI, around 200 mid-level executives who were based in various locations and involved in trade channels have been impacted by this massive layoff.
Confirming the same, a GSK India representative told TOI that as part of a strategic review, more than 150 colleagues from the CTC business have been impacted. In addition, he further noted that although specific information could not be ascertained, it was possible that the number of workers laid off could be even higher.
Regarding the job of the terminated employees, an industry expert pointed out that the role of the fired employees included taking orders from chemists, which can now be done more successfully through digital means. They would ensure that certain brands were available at pharmacies and retail stores.
It is worth mentioning that last year the Medical Dialogues Team had reported that GlaxoSmithKline Pharmaceuticals had approved the sale of its manufacturing facility located at Vemgal in Karnataka to Hetero Labs for a consideration of Rs 180 crore.
GlaxoSmithKline Pharmaceuticals Ltd. is an Indian research-based pharmaceutical and healthcare company, and a subsidiary of GSK. Its product portfolio includes prescription medicines and vaccines.
Its prescription medicines range across therapeutic areas such as anti-infectives, dermatology, gynaecology, diabetes, oncology, cardiovascular disease, and respiratory diseases. It also offers a range of vaccines for the prevention of hepatitis A and B, invasive diseases caused by H. influenzae, chickenpox, diphtheria, pertussis, tetanus, rotavirus, cervical cancer, and others.
GSK has more than 5,000 employees in India, and notable brands include the antibiotic Augmentin, the analgesic Calpol, and the topical ointments Betnovate-N and Betnovate-C.
