Following this, shares of the company plunged 19.96 per cent to settle at Rs 179.20 on BSE - its lowest trading permissible limit for the day.
At NSE, shares of the company tumbled 20 per cent to close at Rs 179.25.
Chloramphenicol Sodium Succinate Injection is an antibiotic used to treat serious bacterial infections.
"Lincoln Pharmaceuticals Ltd is exporting medicines to many African countries... One of the highest selling product is Chloramphenicol Sodium Succinate injection.
It further said: "In this circumstance a huge quantity dispatched to Tanzania has (been) kept on hold there and the authority has issued a notice to destroy the product."
However, the Ahmedabad-based firm did not specify the reason why its product has been banned in the African nation.