Pfizer to shut Thane plant

Company's decision to close the plant is based on an assessment of its long term viability and its ability to achieve the needed production

Mumbai-headquartered drug maker Pfizer will close its Thane plant, idle since 2013, after two months.

"There has practically been no production activity at this plant since 2013, and the closure will not impact supply of any of the company's medicines to patients," it said.

"The decision to close the site is based on an assessment its long-term viability and its ability to achieve the needed production," said a company spokesperson.

In a communication to the stock exchange, the company said it "has intimated the authorities that it intends to effect closure of its plant situated at Thane-Belapur Road,... Navi Mumbai with effect from September 16, 2015".

The company had offered a voluntary retirement scheme (VRS) to the workmen at this site last year. This was taken up by as many as 132 of the 212 workmen. The remaining 80 workmen have continued to receive full wages, despite plant inactivity. As a part of the closure process, the company will honour its obligations towards requisite compensation, as mandated by law, the spokesperson said.

Commissioned in the 1960s, the Thane plant had been catering to both domestic and export markets for the company.