Pfizer shares down nearly 2% on sale of 4 products

Pfizer shares were down nearly 2% on Tuesday, as the pharmaceutical company completed the transaction of the sale of four products to Piramal Enterprises. 

On Tuesday, Pfizer shares fell 1.86% or Rs 35.90 apiece to Rs 1894.50 as it completed the sale of Neko Soap, Sloans, Ferradol, and Waterbury's Compound for Rs 110 crore. 

The pharma company had informed the BSE in a letter on May 13, 2016, that it had entered into an agreement with Piramal Enterprises for the sale of its products. 

"Post completion of requisite formalities and the receipt of necessary regulatory approvals for the transactions, the company has concluded the transaction. Accordingly, the aforementioned products stand transferred to Piramal Enterprises effective today," Pfizer said in a notification to the BSE.