Pfizer said Wednesday the company intends to close its manufacturing facility at Thane with effect from Sept. 16, 2015. "This plant was commissioned in the 1960s and has been a part of Pfizer India's heritage for over 50 years. During this time, it has served millions of patients, producing a number of medicines for both domestic and international markets."
"The decision to close the site is based on an assessment its long term viability and its ability to achieve the needed production. There has practically been no production activity at this plant since 2013, and the closure will not impact the supply of any of our medicines to patients," the company said.
Further the company said, "Pfizer remains committed to providing high quality medicines to our patients and customers in India."
Shares of the company declined Rs 3.25, or 0.15%, to trade at Rs 2,107.40. The total volume of shares traded was 2,021 at the BSE (1.57 p.m., Wednesday).