Over 1,700 employees working in these two factories are expected to be impacted by the decision. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Pfizer operates five manufacturing sites in India and the country will continue to be an important manufacturing location for Pfizer worldwide. It also produces branded Maxipime. And it has every reason to smile. It will cater to the export markets, such as United States and eventually, to Canada. The product is a monthly auto renewal product. Offer closes soon. Save as Alert. You have clicked on a link which leaves THBL website, and you will be redirected to a third party website.THBL makes no representations nor has any supervision or control over the content, reliability or security of the third party website, nor shall THBL be liable for its use. Your Reason has been Reported to the admin. Get Personalised Job Recommendations. Both plants are export-oriented sites and do not supply products to Pfizer’s operations in India. The facility had earlier received observations from the US FDA as part of inspections in 2013 and 2015, according to reports. You can also download our Android App or IOS App. Your Health . 2020The Indian Express [P] Ltd. All Rights Reserved. Beautifully designed, slim, and sporting a good set of cameras at an affordable price, This latest Mi Band can rival any smartwatch in terms of the number of features it offers. Get to Know Us. Financial Express is now on Telegram. 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Get diverse set of perspectives from our trusted experts on Portfolio, Banking, Economy, Environment and others. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Dive Brief: Pfizer has temporarily shut down production at a generic drug manufacturing site near Chennai, India, reports The Economic Times. The recommendation to exit Chennai and Aurangabad sites had been the result of a significant loss of product demand making manufacturing at these sites unviable, a Pfizer spokesperson had said.The Chennai plant employs around 1,000 employees and Aurangabad site has close to 700 workers, while both the sites are purely export-oriented sites and do not supply products for Pfizer’s India commercial operations. The Chennai facility has received several observations from the US Food and Drug Administration (US FDA) in the past, the latest being in July 2018. The US-based pharma major Pfizer on Wednesday ceased operations at its manufacturing units in Aurangabad in Maharashtra and Chennai due to long-term l. ... More Latest News… While the company is shutting down the two facilities, plans are afoot to expand the Vizag manufacturing facility, which also came as part of the acquisition. Commenced in 2017, this Pfizer School Program, aims to enhance the health and sanitation infrastructure in a number of schools. Kindly visit the Manage my subscription page to discover the benefits of this programme. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. I am a 53-year-old home-maker. From pop-up restaurants and online courses to cargo operations, global airlines and aircraft manufacturers are ... With limited operations, both IndiGo and SpiceJet posted huge losses in June. Last Updated at January 08 2019 22:59 IST, First Published: Tue,January 08 2019 22:58 IST, Plans are also afoot to expand the Vizag manufacturing facility of the company. The Irungattukottai facility currently employs around 1,000 people and Aurangabad site employs around 700. U.S.-based pharma major Pfizer on Wednesday said it plans to shut down its manufacturing units in Chennai and Aurangabad in the current fiscal due to very significant long-term loss of product demand. Pfizer said the step is being taken due to loss of product demand. Acquired in Pfizer's acquisition of Hospira last year, the facility had previously been flagged by the U.S. Food and Drug Administration for a number of manufacturing violations in 2013. chennai pfizer Blogs, Comments and Archive News on Economictimes.com “Our focus is on our colleagues impacted by this decision and we are committed to keeping them informed of the site exit process,” added the company. Over 1,700 employees working in these two factories are expected to be impacted by the decision. CLW produces Tejas Express electric locos; see features here, ITC share ‘buy’ or ‘sell’; CLSA believes long-term positives unfolding with FMCG driving value, Saral Jeevan Bima: Standard term life insurance plan guidelines released – Check features, benefits. We believe in free, fair and credible journalism. Sort by : Relevance; Date; Get Personalised Job Recommendations. Pfizer Jobs In Chennai. There may be general gloom, but brands are trying to shake it off ... Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ... Aequs Aerospace to create space for large-scale manufacture of toys at Koppal. We, however, have a request. Stay on top of your investments. Footer menu. Pfizer, the US-based pharmaceutical giant, will shut down manufacturing operations at two plants of its subsidiary Pfizer Healthcare India Pvt Ltd. “As a result, Pfizer is announcing that both the Aurangabad and Irungattukottai sites will immediately cease manufacturing with the intention to exit both sites as soon as possible in 2019. Follow us on Telegram, The investment strategy is close to that of value/contra or opportunities funds. We are not able to provide additional details at this point,” the spokesperson said. As demand from ... Big Story | How to use candlestick charts to predict stock price. Pfizer  |  Usfda  |  Sriperumbudur, Gireesh Babu & Aneesh Phadnis  |  Pfizer to stop manufacturing at its Chennai and Aurangabad facilities. This product is a monthly auto renewal product. Pfizer’s own vintage plant in Thane was also sold about three years ago. Pfizer on January 8 decided to shut down two of its Indian manfacturing plants — Irungattukottai (Chennai) and Aurangabad (Maharashtra) — owing to lack of commerical viability. “Our priority at this time is to support colleagues impacted by our decision to exit the Aurangabad and Chennai sites. For reprint rights: Good manufacturing practices are in place for a reason and if such deviations are observed in the pharma industry the impact is very intense..!! MUMBAI: Pfizer is the latest addition to an expanding list of drug makers found deviating from good manufacturing practices in India. The exact timing of the exit of the sites is to be determined,” said a Pfizer spokesperson. By Gireesh Babu & T E Narasimhan | Press Kits @Pfizer @Pfizer_News. This was because it was not following quality control norms and lacks data related to laboratory records. The year has started on a disheartening note for Pfizer’s employees in Aurangabad (Maharashtra) and Irungattukottai (Tamil Nadu), with the pharma MNC confirming that it will “exit” plants at both sites at the earliest in 2019. However, it reiterated it had a long-standing commercial and manufacturing presence in India for more than 60 years and the decision to shut down two of its production sites would not have any impact on its other commitments and ongoing operations in India. When contacted a Pfizer spokesperson declined to comment on the exact quantum of the amount being offered as compensation. Last year, the IKKT plant had “paused” production after it came in for a regulatory rap from the USFDA. The Aurangabad site also supports IKKT by supplying penems and penicillin. Pfizer said its research and development (R&D) facility in Chennai will continue to operate as usual. As a result, both sites will immediately cease manufacturing with the intention to exit as soon as possible in 2019. Press Kits @Pfizer @Pfizer_News. The US pharma company had secured these plants when it acquired Hospira in 2015. Get a daily email with all the news updates on them. In its statement, Pfizer said: “Our focus is on our colleagues impacted by this decision and we are committed to keeping colleagues informed of the site exit process.”. To cancel, communicate from your registered email id and send the email with the cancellation request to. The exact timing of the exit of the sites is to be determined,” said a Pfizer spokesperson. These are among the 11 observations the US Food and Drug Administration (USFDA) has made following inspections at the Hospira Healthcare India in Sriperumbudur conducted in last March-April. Inciting hatred against a certain community, India's 1st Online Instant Personal Loan Marketplace, This refrigerator with AI tech is winning the market, Vodafone wins international arbitration against India in $2 billion tax dispute case, Telcos split over timing of 4G spectrum auction; Mukesh Ambani's Jio pushes for earliest date, FSSAI bans blending of mustard oil with any other cooking oil from Oct 1, Netflix, Amazon Prime are latest weapons in India’s telecom war, Harley Davidson exits current biz model in India; announces plant shutdown, to cut salesforce. A Pfizer spokesperson said they were ... Key stories on business-standard.com are available to premium subscribers only. Under the program, more than 240 sanitation units in schools across five states have been successfully built and refurbished till date, benefitting over 23,000 students. Digital Editor. It also produced branded Maxipime. Podcasts. Workers of two Pfizer units may get up to Rs 15 lakh severance package, RIL Q3 net profit beats estimate: Here’s what Mukesh Ambani has to say, Twitter locks White House Press Secretary’s personal account, FT report: Tatas may buy a stake in BigBasket, Turnaround: Start-ups in recovery mode; funding nearing pre-Covid levels, Sun Pharmaceutical Industries Share Price. Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. US-drug gaint Pfizer will be soon be shutting down two of its plants in Aurangabad, Maharashtra and Irungattukottai (IKKT) near Chennai in Tamil Nadu citing lack of viability.. Apart from this, notice pay, leave encashement and early bird incentive of Rs 7 lakh along with Rs 5 lakh towards ‘group participation’ will form part of the financial package, which will take the average compensation to somewhere around Rs 15 lakh, according to a communication sent out by Pfizer Healthcare India Private, to the effected employees. 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