MONTHS of uncertainty has ended with the announcement that Abbott Laboratories on the Isle of Sheppey is under new ownership.

The pharmaceutical business in Queenborough, has been bought by Aesica, which has safe-guarded 450 jobs and has plans to further expand.

Both Abbott, which came to Sheppey in 1962 and has been one of the Island’s biggest employers, and Aesica have remained tight-lipped over how much the deal cost.

The sale is accompanied by a supply agreement which runs until the end of 2012 meaning Aesica will continue to manufacture and process Abbott’s pharmaceuticals, including anaesthetics, neuroscience/pain, anti-infective and oncology products.

In a letter to local MP Derek Wyatt, Aesica’s chief executive Officer Dr Robert Hardy, said: “Aesica is an ambitious company and the Queenborough site, and those working there, have a big part to play in fulfilling our vision of becoming the number one supplier of Active Pharmaceutical Ingredients and formulated products to the pharmaceutical industry.

“Our vision is to grow the site through the acquisition of new products.”

He added:“We very much look forward to welcoming the Queenborough employees to Aesica and to our involvement in the business community in the area.”