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Mumbai:
Pfizer India, the Indian subsidiary of the US-based Pfizer
Inc, has decided to put three of its manufacturing units
on the block.
The
company''s move is part of the ongoing operational integration
of Pfizer India with the recently acquired Pharmacia Corporation''s
Indian arms, Pharmacia Healthcare, Pharmacia India and
Parke-Davis.
Pharmacia
Corporation was globally acquired by Pfizer Inc, while
Parke Davis''s parent Warner Lambert was merged with Pfizer
in 2000. Pharmacia Corporation held a 75-per cent stake
in its Indian arm, Pharmacia Healthcare (formerly Abbott),
and Pharmacia India was a 100-per cent subsidiary of the
US parent. The three plants put for sale are Pharmacia''s
Ankeleshwar unit, Park-Davis''s manufacturing facility
in Hyderabad and Pfizer''s Chandigarh plant.
A
Pfizer India spokesperson says operations of all these
plants are economically non-viable and the sale is a part
of its ongoing restructuring exercise. "We have discontinued
operations at Pharmacia''s unit at Ankeleshwar. The products
that were manufactured at this unit may be shifted to
company''s Thane facility or may be given out for third-party
manufacturing."
Pfizer
sources say a voluntary retirement scheme has been offered
to its employees. The other manufacturing unit of Pharmacia
in Bangalore, which manufactures intra-ocular lenses,
will be retained. Pfizer will, consequently, consolidate
its manufacturing operations in its Thane facility near
Mumbai. It has invested around Rs 13.6 crore to upgrade
the facility.
The
sources say Pfizer India plans to suspend operations at
its Chandigarh plant by February 2004. The company has
applied to the Maharashtra government stating its intention
to discontinue the bulk drugs manufacturing at the Chandigarh
facility. The company has another manufacturing unit of
Pharmacia in Bangalore, which manufactures intra-ocular
lenses.
Pfizer''s
Chandigarh plant, a fermentation facility, produces oxytetracycline
and its salts and salinomycin 350, catering to the local
demand, and chlopropamide, which is exported. Parke Davis''s
plant has been closed for some time now and golden handshakes
have been given to around 500 employees.
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