The Thane manufacturing plant employs 212 workers. This notice for lockout will not impact the supply of any of our products or medicines to patients, Pfizer said.
Drug firm Pfizer today issued lockout notice at its Thane plant following labour unrest, stating the step was necessitated to ensure safety of its employees.
"Pfizer has been forced to issue a lockout notice at its Thane manufacturing plant to ensure the safety of our colleagues," the company said in a statement.
There have been multiple incidents of indiscipline, threats to our management personnel as well as attempts to disrupt production lines by certain workers, it added.
The Thane manufacturing plant employs 212 workers. This notice for lockout will not impact the supply of any of our products or medicines to patients, Pfizer said.
"The company has in place a robust business continuity plan which will ensure that its medicines are available to the patients at all times," it added.
In a filing to the BSE, Pfizer said because of the incidents "it has become impossible for the management to continue with the operations of the plant in a peaceful and productive manner".
"We are not in a position to resume operations until we are assured by the workmen that the safety of our colleagues will not be compromised in any manner and that the workmen will not indulge in acts of indiscipline at the plant," the company said.
Headquartered in Mumbai, Pfizer Ltd employees over 4,000 people spread across India. Shares of Pfizer Ltd today closed at Rs 1,340 per scrip on BSE, down 1.33 percent from its previous close.
Pfizer stock price
On August 01, 2014, Pfizer closed at Rs 1340.00, down Rs 18, or 1.33 percent. The 52-week high of the share was Rs 1779.00 and the 52-week low was Rs 1004.10.
The company's trailing 12-month (TTM) EPS was at Rs 73.51 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 18.23. The latest book value of the company is Rs 641.82 per share. At current value, the price-to-book value of the company is 2.09.
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