Pfizer to Receive Rs 131.38 Crore After Minipress XL Discontinuation; Know Details
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Pfizer Limited will discontinue Minipress XL after Pfizer Inc. USA decided to stop manufacturing the product, with the Indian company set to receive a lump sum payment of around Rs 131.38 crore.
✨ Key Takeaways
On Monday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 157 points, or 0.66 per cent, to 23,740. Amid the market movement, Pfizer Limited share price fell 0.51 per cent to Rs 4,586.1 after the company announced the discontinuation of Minipress XL and said it would receive a lump sum payment of around Rs 131.38 crore from Pfizer Inc. USA.
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Download Service BrochureMinipress XL Sales to Be Discontinued
Pfizer Limited will stop the marketing, distribution and sale of Minipress XL with effect from September 7, 2026. The development follows a decision taken by Pfizer Inc. USA to discontinue the manufacture of Minipress XL. As manufacturing of the product is being stopped at the parent-company level, Pfizer Limited will consequently withdraw the product from its marketing and distribution operations.
The announcement marks a direct change in the company's existing product portfolio, with Minipress XL no longer forming part of its marketed products from the effective date.
Pfizer Limited to Receive Rs 131.38 Crore
Along with the discontinuation, Pfizer Limited disclosed that it will receive a lump sum payment of USD 13.9 million, equivalent to approximately Rs 131.38 crore, from Pfizer Inc. USA in connection with the decision. The payment is linked specifically to the discontinuation of Minipress XL following Pfizer Inc. USA's decision to stop manufacturing the product.
The company did not provide any additional details in the filing regarding the contribution of Minipress XL to its revenue, the timing of receipt of the payment or the accounting treatment of the lump sum amount.
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About the Company:
Pfizer Limited has been involved in the marketing, distribution and sale of Minipress XL, which will now be discontinued following Pfizer Inc. USA's decision to stop manufacturing the product.
Disclaimer: The article is for informational purposes only and not investment advice.