Alembic withdraws Bivinal Syrup from market

One of the oldest pharmaceutical companies in the country Alembic Ltd has withdrawn its recently launched Bivinal Syrup from the market. As of now the company does not plan to re-launch the syrup.

Bivinal Syrup is a vitamim B complex supplement launched a few months ago by Alembic Ltd in the domestic market. Speaking to Business Standard, Alembic Director and President-Finance R K Baheti said, "The company has completely withdrawn Bivinal Syrup from the market."

Soon after the drug was introduced in the market, the National Pharmaceutical Pricing Authority (NPPA) is believed to have come across 39 unapproved formulations and 58 overpriced formulations in a list of 886 medicines manufactured by drug companies.

A violation notice was issued to the respective companies. Out of the 39 unapproved packs, Bivinal Syrup was also present in the list.

Baheti added that the company did not plan to re-launch the drug in the market. Bivinal Syrup, he said, formed a minuscule part of its entire generic drug business and it wasn't imperative to move further with it. However, he added, sales of Bivinal Syrup would have been around Rs 50 lakh per year.

After the NPPA notice, the Government has also initiated action against six pharma companies including Wockhardt and Lupin for overpricing medicines and launching unapproved formulations in the market.

The issue of overpricing and unapproved drugs was recently raised in the Lok Sabha as well.