Pfizer offers to sell drugs plant to Venezuela

Pfizer offers to sell drugs plant to Venezuela
Wednesday, June 03, 2009

US drugmaker Pfizer has been in emergency talks with the government of Venezuela after being threatened with seizure of a pharmaceutical production plant earmarked for closure.

The company has said it would be prepared to sell the plant to the Venezuelan government, but also noted that it was in discussion with "other interested parties".

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Pfizer has insisted that the move does not mean it will cease supply of any of essential medicines in Venezuela and was simply a means of rationalising its production.

Despite those assurances Saman asked President Hugo Chavez to consider taking over Pfizer's Venezuelan operations to guard against any impact on medicines supplies, arguing that the move was justified as the plant had been supported with government funding.

The minister said the government was considering the offer to buy the plant as it could be turned over to the production of generic medicines.

More:
http://www.pharmafocus.com/cda/focusH/1,2109,21-0-0-0-focus_news_detail-0-492819,00.html