Pfizer enters into business transfer agreement for its Thane Plant

For a lump sum consideration of Rs 178 crore

Pfizer announced that it has entered into a Business Transfer Agreement (BTA) for the transfer of the Company's business at the Thane Plant as a going concern to Vidhi Research and Development LLP in accordance with the terms of the agreement for a lump sum consideration of Rs. 178 crore. Upon the conclusion of the BTA, all current workmen at the Thane Plant shall be transferred to the buyer so as to facilitate manufacturing operations.

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