Pfizer to shut Thane plant in September

: Pharma major Pfizer Ltd announced on Wednesday the shutting down of its Thane manufacturing plant from September 16 as it has become unviable, a company spokesperson said here.

"The decision to close the site is based on an assessment of its long term viability and its ability to achieve the needed production. There has practically been no production activity at this plant since 2013, and the closure will not impact the supply of any of our medicines to patients," the spokesperson said.

The plant was commissioned in the 1960s and was part of the company's heritage for over five decades.

During that time, the company, which notched a turnover of Rs.1004 crore last year, produced a number of medicines for both the domestic and international markets, serving millions of patients.

Pursuant to the closure decision, the company offered a voluntary retirement scheme (VRS) to 132 of its 212 workmen at the site last year, while the remaining continued to get full wages though the plant was inactive.

Pfizer Ltd said it would honour the obligations towards requisite compensation for the remaining 80 workmen as per the laws.

Pfizer is headquartered in Mumbai with over 4,000 employees in the country.