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Pfizer going to sell Thane Plant to Vidhi Research

The drug firm Pfizer said that it has entered into a business transfer agreement for selling its Thane Plant to Vidhi Research and Development LLP as a going concern for Rs 178 crore.

the company said in a filing to BSE that “It has entered into a Business Transfer Agreement (BTA) for the transfer of the company’s business at the Thane plant as a going concern to Vidhi Research and Development LLP in accordance with the terms of the agreement for a lump sum consideration of Rs 178 crore.”

“Upon the conclusion of the BTA, all current workmen at the Thane Plant shall be transferred to the buyer so as to facilitate manufacturing operations,” it said.

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