Pfizer's India MD Kewal Handa to retire in August

Drug firm Pfizer Ltd, the Indian arm of global major Pfizer Inc, today said its Managing Director Kewal Handa will retire from the company in August 2012 after two decades of association with the firm.

Under Handa's leadership Pfizer India entered the branded generics market and grew in strength by mergers with Parke-Davis and Pharmacia and integration with Wyeth India, the company said. Speaking on his decision, Handa said: "After twenty personally and professionally rewarding years at Pfizer, it''s time for me to begin a new chapter in my life." Handa, who had also held the position of Chief Financial Officer, has been the Managing Director of the company for the last seven years, Pfizer Ltd said. Headquartered in Mumbai headquartered firm Pfizer Ltd has over 2,300 employees and a manufacturing facility at Thane. Scrips of Pfizer Ltd today closed at Rs 1,216.80 per share on BSE, down 1.36% from its previous close.