Pfizer, a Rs. 1,800 crore plus Indian subsidiary of Pfizer Inc. USA, has entered into a business transfer agreement for the transfer of the company’s business at the Thane plant to Vidhi Research and Development LLP for Rs. 178 crore. Upon the conclusion of the BTA, all current workmen at the plant shall be transferred to the buyer so as to facilitate manufacturing operations.
Pfizer implemented voluntary retirement scheme for its workmen during 2014-15 and 132 workmen opted for the scheme. The balance 80 workmen continued to be on the rolls. Presently no operations are being carried out in the said plant.
Vidhi Research Development LLP is a Limited Liability Partnership firm incorporated on September 15, 2014 in Gujarat.
Subscribe to PharmaTutor News Alerts by Email >>
