GlaxoSmithKline to shut down antibiotics production, cut 300 jobs in wake of Novartis buyout

GlaxoSmithKline plans to shut down antibiotics production in the U.K. after wrapping up a $500 million product sale to Novartis’ Sandoz.

GSK will finish out its supply commitment to Sandoz—a deal that lasts through 2025—as it prepares to shutter one site and downsize another, cutting 300 jobs in the process, the company said Friday.