Gland Pharma evinces interest for Pfizer factories

CHENNAI: Chinese pharmaceutical company Fosun Pharma-owned Gland Pharma has emerged a front runner to take over the two factories of Pfizer, one in Chennai and the second in Aurangabad, as the American drug maker has decided to sell them as part of its optimisation drive.


Pfizers’ global headquarters in the US is running a process to find suitors for the two factories, a 30 acre Sriperumbudur factory and a 50 acre plant in Aurangabad along with its plant and machinery. These two factories came under Pfizer management after it acquired

Hospira

in a global deal. Hospira acquired the two factories when it acquired Orchid Pharma.

“The transaction is in advanced stages. The factories are mothballed and the employees in these units have been given a golden handshake or redeployed elsewhere within the Pfizer offices. Gland had evinced interest in buying out Orchid, but the bids did not meet the Committee of Creditors requirements and hence was rejected.

Communications sent to Sampath Kumar, head of media relations at Gland did not evoke a response while Pfizer could not be reached for a comment.

Orchid made

penicillin

and penem active pharmaceutical ingredient in Aurangabad factory, the Sriperumbudur unit made formulations.