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Corrected: Pfizer to shut two manufacturing plants in India

Reuters 

(Corrects third paragraph to show plants employ nearly 6 pct of workforce, not total workforce)

(Reuters) - U.S. drugmaker said on Wednesday it was shutting down two plants in that make generic injectables like penicillin as a response to falling demand.

Indian financial newspaper reported the on Tuesday, saying over 1,700 employees would be impacted by the closure of the two factories in the states of and

The factories employ nearly 6 percent of Pfizer's global workforce.

"Pfizer has conducted a thorough evaluation of the ... sites in and concluded that due to the very significant long term loss of product demand, manufacturing at these sites is not viable," the company said in an emailed statement.

Pfizer acquired the sites as part of its $15 billion purchase of in 2015, to boost its portfolio of generic injectable drugs and copies of biotech medicines.

The plant in Chennai makes generic injectable cephalosporin, penems and penicillin. The plant supplied the Chennai unit with certain products.

Both plants do not manufacture products for the market, Pfizer said, adding that it is expanding operations in its in

(Reporting by in Bengaluru; Editing by Arun Koyyur)

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

First Published: Wed, January 09 2019. 22:34 IST
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