Shares of Pfizer were trading in the green and reached an intra-day high of Rs 3,904.85 on 2 November after the company announced that it had sold the Thane property to Zoetis Pharmaceutical Research Private Limited for a total consideration of Rs 264.40 crore.

After receiving the board’s approval, the company entered into an agreement to assign and assume the lease of Maharashtra Industrial Development Corporation land and the sale of the building constructed on a plot at Trans Thane Creek Industrial Area and other structures that have a total built-up area of 16,494.33 square meters to Zoetis Pharmaceutical.

The transfer of the land is subjected to requisite approvals from concerned regulatory authorities, including the Maharashtra Industrial Development Corporation.

In its quarterly report for the July-September quarter, the pharma major posted a 52.1% year-on-year (YoY) decline in its net profit at Rs 149 crore during the quarter and reported a 9.8% YoY decline in its revenue from operations at Rs 575.2 crore during the same period.

The shares of the company touched a 52-week high of Rs 4,662.5 and a 52-week low of Rs 3,406.95 on 2 December 2022 and 28 March 2023, respectively.

At 11:13 am, the shares of Pfizer were trading 0.081% above at Rs 3,886.40 on NSE.