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Pharmaceutical giant Pfizer is warning that over 400 jobs are expected to be lost as a result of its decision to close the company's remaining manufacturing operations in Sandwich, Kent.

In a statement today confirming the decision, Pfizer stressed that the move was part of its ongoing plans to consolidate its worldwide manufacturing operations in order to manage global capacity and demand more efficiently.

The company, which employs some 90,000 people across the world, said that it was also acting to establish a smaller and more flexible cost base.

Around 420 roles are expected to be lost as a result of the closure of Pfizer's manufacturing operations at Sandwich, with the redundancies to be phased in over a two-year period.

Drugs made at the site are thought to include the company's renowned Viagra product.

However the world's largest research-based pharmaceutical firm stressed that Sandwich would continue to serve as one of its four key research and development sites across the globe.

"It is with regret that we announce our decision to end manufacturing operations in Sandwich after 53 years," said Pfizer's vice-president of manufacturing, Tony Maddaluna.

"This is the latest in a number of global manufacturing changes, to ensure we are operating as efficiently and effectively as possible and able to respond to the challenges of today's business environment," he added.

Pfizer said that its "priority" would be to support staff affected by the decision, including by redeploying them if possible.

But local MP Dr Stephen Ladyman described the announcement as "dreadful" news.