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Pfizer to shut down two mfg units, may impact 1,700 workers

Press Trust of India  |  Mumbai 

The US-based pharma Wednesday said it plans to shut down its units in and in the current fiscal due to very significant long-term loss of product demand. The closure is expected to impact nearly 1,700 workers.

Its Irungattukottai unit in currently employs approximately 1,000 workers and Maharashtra's site employs approximately 700. The exact timing of the exit of these sites is yet to be determined, the drug said.

The recommendation to exit both the sites are the result of significant loss of product demand making at these sites unviable, the company said.

The plants had been part of its acquisition of US-based in 2015.

"has conducted a thorough evaluation of the IKKT (Irungattukottai) and sites and concluded that due to the very significant long-term loss of product demand, at these sites is not viable.

As a result, both sites will immediately cease manufacturing with the intention to exit as soon as possible in 2019. The exact timing of the exit is to be determined," a said.

Both plants are purely export oriented sites and do not for Pfizer's commercial operations, it said.

IKKT manufactured generic injectable cephalosporin, penems, and penicillin for the US, EU and rest of the world markets. It also produce branded The Aurangabad also supports IKKT by supplying penems and penicillin.

"Most of these products will be discontinued now due to the very significant long-term loss of product demand. There are no current ongoing of these products to other sites," said a Pfizer

Pfizer operates five in and will continue to be an for Pfizer worldwide.

"This announcement does not affect our other Indian in Goa, Visakhapatnam and our joint venture site (with Cadila Healthcare), ZHOPL (Zydus Oncology), in

The company's site is now being expanded into a global terminally of excellence. It will cater to export markets, such as United States and eventually to Canada," the added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 18:40 IST
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