The pharmaceutical giant, GlaxoSmithKline has announced to slash 130 jobs from its workforce in Dungarvan in the next four years. The announcement was made after the company indicated to shift its production of some pharmaceuticals to Spain. The shift in operations is part of the restructuring strategy of the company.

The company has said that it will continue the operations at its Irish plant, despite the job cuts.

Shilpa Medicare Limited has signed a MoU to form a joint venture company to manufacture drugs and pharmaceuticals with ICE S. r. l. and PCA S. p. a of Italy.

The joint venture company will be called as Raichem Medicare (P) Limited.

It should be noted that Shilpa Medicare Limited and ICE S. r. l. are working together for the last seven years for custom synthesis under confidentiality agreement, and the success of this led into formation of joint venture.