American pharmaceutical firm Pfizer has said that two manufacturing plants in India will be shut down owing to falling demand. It is estimated that with the closure of these factories over 1700 employees will be impacted. The two factories are in Tamil Nadu and Maharashtra. Nearly 6% of Pfizer’s global force is employed here.
In an email the company said, ‘Pfizer has conducted a thorough evaluation of the.... sites in India and concluded that due to the very significant long term loss of product demand, manufacturing at these sites is not viable.’
The Chennai plant makes generic injectable Cephalosporin, Penems and Pencillin. The Maharashtra plant at Aurangabad supplied the Chennai unit with certain products. Pfizer said that both these plants do not make products for the Indian market. It added that its Vishakapatnam facility will be expanding operations.
The exact timing of the exit of the sites is yet to be determined.