Pfizer ($PFE) continues to reduce the size of its manufacturing operations, this time with plans to close a plant in Australia. According to The West Australian, the drugmaker has said it will close the plant in Sydney in 2015 where about 140 workers manufacture both human and animal medications. Justin Mathie, director of manufacturing operations, said the decision reflects the need to move to more flexible manufacturing for higher value treatments targeted at specific patient groups. "This requires more flexible manufacturing facilities and a different overall approach to manufacturing," he told the newspaper. With blockbuster drugs like Lipitor falling to generic competition, Pfizer has been drastically cutting back its manufacturing, closing some plants and shedding others in spinoffs of its nutritional and animal health operations. Story | More