Pharmaceutical company Pfizer plans to shut down its manufacturing plant in the Sydney suburb of West Ryde in 2015. The plant currently produces tablets and capsules for humans and animals.
As AAP reports, the planned closure will result in the loss of around 140 jobs.
Announcing the decision, Pfizer Australia said that the closure would be phased and that most workers would not be affected until 2015.
Commenting on the decision, Pfizer Australia’s manufacturing operations director Justin Mathie said that the decision was influenced by the company’s desire to align its global manufacturing capacity with its business needs.
"Our focus in the months ahead will be on those colleagues impacted by this decision, as well as ensuring we continue to make Pfizer medicines available to Australian patients," he said.
He said that the company intends to adopt a different overall approach to manufacturing and to employ more flexible manufacturing facilities as the pharmaceutical industry changes and trends away from high-volume medicines towards those of higher value that target a specific patient population or disease condition.
Pfizer Australia currently employs more than 1600 people. There are no plans to shut the company’s other manufacturing plant in Perth.