Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Pfizer to close two factories in India

January 9, 2019 3:53 PM
286 0
Pfizer to close two factories in India

Mubasher: Pfizer on Wednesday said that it would close two manufacturing factories in India, which employs around 6% of the US pharma giant’s global workforce.

More than 1,700 employees would be affected after the shutdown of the two factories in the states of Tamil Nadu and Maharashtra, which make injectables like penicillin in response to faltering demand.

“Pfizer has conducted a thorough evaluation of the [...] sites in India and concluded that due to the very significant long term loss of product demand, manufacturing at these sites is not viable,” the drugmaker told Thomson Reuters in an emailed statement.

While both factories do not manufacture products for the Indian market, operations would be expanded in the Visakhapatnam facility in south India, Pfizer said.

The pharma major acquired the sites within its $15 billion purchase of Hospira in 2015, to expand its portfolio of generic injectable drugs and copies of biotech medicines.


Share in social networks:

Comments - 0