What you need to know about the Ehs training courses
LONDON (Reuters) – The Ehs brand, which has been sold for more than a decade, is on a fast decline, and the company says it is planning to shut its British factory.
Ehs, which is based in London, said on Wednesday it was planning to shutter its manufacturing unit at a factory in Oxfordshire, England, after selling it to an Italian company last year.
Its UK factory has been shut since January because it does not meet strict production targets, and has not delivered the expected number of orders, the company said in a statement.
It said it expected to spend £1.3 million ($2.5 million) on a new facility in Oxford and had secured an additional £1 million of funding from a private equity fund.EHS, which was founded in 1992 and was acquired by the Swiss pharmaceutical company GlaxoSmithKline in 2012, had a turnover of more than £500 million in 2017.
Its brands include Alkahest, AstraZeneca and Tylenol.
The company, which started as an anti-inflammatory drug, had its market value hit £11.7 billion in 2016, according to data compiled by Bloomberg New Energy Finance.
It is based on a philosophy of reducing inflammation and treating pain with a variety of treatments, including acupuncture, herbal medicine and yoga.
The drugmaker has a manufacturing facility in Britain, but said it was considering closing it, Reuters reported, citing unnamed sources.
The UK has a strong pharmaceutical manufacturing sector, but the industry is facing increasing competition from China and other countries.
The Ehs manufacturing plant in Oxford was shut down in 2015, and will be closed permanently in 2020, it said in its statement.
“We are working hard to find a new manufacturing site for the EHS brand and we are confident this will be achieved in a timely manner,” it said.
Ephsh’s British factory is not the only one facing problems.
Its other major UK factory, which makes some of the company’s medicines, is closing, too.
Glaxo SmithKline’s £3.3 billion deal with Astra Zeneca to produce AstraMed, an asthma treatment, also came under scrutiny this year after it said it would shutter its Oxford factory, as it did last year after a string of safety problems.
Eagles Nest, which manufactures generic versions of Astra Med, is not facing closure but is being sold to an Irish company.
Glazio’s sale of the Astra brand to a Chinese company came under fire in November, when it admitted it had not fully disclosed a major safety flaw in the product.
The Chinese company is a major backer of Ehs, and it is expected to make up a significant chunk of its business from the Astras.