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Pfizer India sells property for $63 million

Mon Mar 19, 2007 12:43am EDT

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MUMBAI, March 18 (Reuters) - Pfizer Ltd. (PFIZ.BO), the Indian unit of drug maker Pfizer Inc. (PFE.N), said late on Saturday it had sold a property in north India for 2.78 billion rupees ($63 million).

Pfizer in a statement said it has already received 10 percent of the sale consideration. The property in Chandigarh city housed a plant that ceased operating in 2003, it said.

($1=44.12 Indian rupees)

((Reporting by Narayanan Somasundaram, editing by David Holmes; Reuters Messaging; narayanan.somasundaram.reuters.com@reuters.net; +91 22 6636 9068)) Keywords: PFIZER PROPERTY/

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