Indian Pharmaceuticals companies Glenmark pharma and Nicholas Piramal has withdrawn their drug Valdecoxib from the Indian market after USFDA ban the sale of Valdecoxib formulation products and the recent notification issued by the health ministry of the government of India asking the pharma companies to stop selling and production of Valdecoxib. Ranbaxy as already withdrew the drug from the market after the suggestions of the National Pharmacological vigilance Advisory Committee.
Glenmark Pharma had a major market share in this drug Valdecoxib was at Rs. 25 crores, which subsequently dropped to around Rs. 12 crores, whereas Nicholas had about Rupees 12 crores. Mr. A.S. Mohanty of Glenmark said, "The Indian market abides by the norms laid down by the Drugs Controller General of India. The drug control had advised us to discontinue the manufacture and sale of Valdecoxib in India recently. We had stopped producing and marketing formulations containing Valdecoxib in India. We have recalled all the existing stocks from the market". Glenmark has plans of replacing Valdecoxib with other alternate molecules for treatment of pain relief. He said, "Our pain management portfolio has several other brands based on molecules such as Etoricoxib and Aceclofenac, which are being promoted to replace Valdecoxib.