Pfizer to fire 1,700 and shut two Indian generics plants

11 January 2019

New York-based drugmaker Pfizer (NYSE: PFE) has said that it will shutter two Indian manufacturing facilities that produce generic injectable therapies, including penicillin.

The plants, which are located in the states of Tamil Nadu and Maharashtra, together employ 1,700 people, 6% of its global workforce. Pfizer said they are being closed due to falling demand for these products.

The sites were picked up by Pfizer under the terms of its $17 billion acquisition of Hospira.

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