Pfizer Limited — Important, 01-02-2025: General Updates

Pfizer Limited has received the necessary approval from the Maharashtra Industrial Development Corporation (MIDC) for the transfer and assignment of its unexpired leasehold rights on approximately 82,000 sq. mtrs. of land located at Plot No. 16, Trans Thane Creek Industrial Area, Thane, to Zoetis Pharmaceutical Research Private Limited. This transaction includes the transfer of ownership for buildings totaling around 16,494.33 sq. mtrs. The company aims to complete the deal as per the MIDC's Transfer Order. The total consideration for this agreement stands at Rs. 264.40 crore. This development indicates a strategic realignment for Pfizer, potentially allowing for increased focus on core operations while enabling Zoetis to expand its footprint in the region. Investors should monitor the completion of this transaction as it may open up future growth avenues for both companies.