Pfizer to sell intra-ocular lens unit to AMO

Pfizer India, which last year announced plans to sell three of its five manufacturing units, is looking to sell its fourth unit.

Pfizer's move to sell its Bangalore unit, which produces intra-ocular lenses, dovetails into its US-based parent's decision to sell the group's surgical ophthalmology business to the California-based Advanced Medical Optics (AMO).

Executives at Pfizer India confirmed the development and said while the Indian company had little to do with the decision, it was likely that the employees of the Bangalore unit would be retained by AMO.

Pfizer India is consolidating its manufacturing operations at its only remaining manufacturing unit at Thane in Maharashtra.

It is in the process of selling its facilities in Hyderabad, Chandigarh and Ankeleshwar. Pfizer Inc announced on April 21 its decision to sell its surgical ophthalmology business to AMO for $450 million.