by Bidita Debnath on  March 16, 2016 at 10:49 PM Corporate News
 Pharmaceutical Company Pfizer Stops Selling Corex in India
Pharmaceutical company Pfizer has stopped making and selling cough syrup Corex in India with immediate effect after the government prohibited fixed dose combination of Chlopheniramine Maleate + Codeine Syrup, the company said in a regulatory filing.

"This is to inform you that the government of India vide notification dated March 10, 2016, has prohibited the manufacture for sale and distribution of fixed dose combination of Chlopheniramine Maleate + Codeine Syrup with immediate effect," the company said in a filing with the Bombay Stock Exchange (BSE).

"In view of this, the company has discontinued the manufacture and sale of its drug Corex with immediate effect," it added. The company said that Corex has a well established efficacy and safety profile in India for more than 30 years. "The company is exploring all available options at its disposal."

Regarding the impact of discontinuation of this syrup on the company, the statement said: "The above prohibition is likely to have an adverse impact on the revenue and profitability of the company. It may be noted that Corex recorded sale of Rs.176 crore for the nine-month period ended December 31, 2015."

Source: IANS

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