CorporateIndia Eco Summit: Pfizer to launch another product in India
World"s largest drug maker Pfizer today said it is in the process of bringing in synergies in operation with Wyeth, which it acquired in January this year, and will launch one more product by the end of this fiscal.
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"We have already introduced three products in the country in the last few months. Going forward we will be introducing one more product by the end of the current fiscal," Pfizer India Managing Director Keval Handa told reporters here on the sidelines of the India Economic Summit.
Pfizer has recruited around 250 people this year for its India operations and will add another 200 to its tally next year. The company is also planning to expand to smaller cities.
"To fuel the growth of Pfizer in India, we are also expanding our operations in tier-2 and tier-3 cities," Handa added.
In January, Pfizer had acquired much smaller rival Wyeth for about $68 billion. Handa has also been appointed as Managing Director of Wyeth"s India operations.
"As of now, Wyeth and Pfizer are two separate entities and they do not have major overlaps in terms of product portfolios and rather they complement each other," he added.
The company is currently working on bringing synergies in operations of Pfizer and Wyeth in the country, he said.
Asked about merger of Wyeth with Pfizer, Handa declined to comment.