 "Pfizer stops production of Corex cough syrup")
Pfizer Ltd has decided to discontinue the production and sale of Corex cough syrup with immediate effect. The move has been triggered after the government of India issued a notification on March 10, 2016 prohibiting the manufacture for sale, sale and distribution of fixed dose combination of chlopheniramine maleate and codeine syrup with immediate effect. Through the notification the government has banned over 344 drug combinations after a panel of experts found that they had no therapeutic justification.
“Corex has a well-established efficacy and safety profile in India for more than 30 years and Pfizer makes every effort to maintain the highest standards of regulatory and quality compliance in the manufacture and distribution of Corex cough syrup. The company is exploring all available options at its disposal," said Pfizer in a BSE filing today.
The discontinuation of Corex, which recorded a sale of Rs 176 crores for the nine months from April-December 2015, is likely to have an adverse impact on the revenue and profitability of Pfizer Ltd.
“Corex has a well-established efficacy and safety profile in India for more than 30 years and Pfizer makes every effort to maintain the highest standards of regulatory and quality compliance in the manufacture and distribution of Corex cough syrup. The company is exploring all available options at its disposal," said Pfizer in a BSE filing today.
The discontinuation of Corex, which recorded a sale of Rs 176 crores for the nine months from April-December 2015, is likely to have an adverse impact on the revenue and profitability of Pfizer Ltd.