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Pfizer to shut two manufacturing plants in India


By Mathias and Ahmed Farhatha

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

The company employs around 1,700 workers at the two factories in the states of and - 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, 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 company is also closing a Hospira research and development lab in Taramani, Chennai, but said that was unrelated to the shutdown of the two plants.

The roughly 150 employees at that facility were informed of that shutdown in the fourth quarter, he said.

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

Indian financial newspaper first reported https://the of the on Tuesday.

(Reporting by Mathias and in Bengaluru; Editing by and Richard Chang)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 05:15 IST