US pharmaceutical giant Pfizer Inc's India
unit said on Monday March 14,2016 it had stopped selling its popular Corex cough
syrup, after regulators banned it saying it was likely to pose a risk to
humans.
Corex is a combination of chlopheniramine maleate and codeine syrup -- one of 344 drug combinations India banned over the weekend after a government panel of experts found they had "no therapeutic justification."
All these medicines have entered the market over the years based on approval from regulators of individual states, rather the central government, as legally required.
The decision on Corex is likely to hit Pfizer's revenue and profit. The brand brought in sales of about 1.76 billion rupees ($26.30 million) to Pfizer in the nine months ended December 2015, the company said in a statement.
Pfizer said it believed Corex had a "well-established efficacy and safety profile in India for more than 30 years," without elaborating. It added that it was "exploring all possible options at its disposal."
Corex is a combination of chlopheniramine maleate and codeine syrup -- one of 344 drug combinations India banned over the weekend after a government panel of experts found they had "no therapeutic justification."
All these medicines have entered the market over the years based on approval from regulators of individual states, rather the central government, as legally required.
The decision on Corex is likely to hit Pfizer's revenue and profit. The brand brought in sales of about 1.76 billion rupees ($26.30 million) to Pfizer in the nine months ended December 2015, the company said in a statement.
Pfizer said it believed Corex had a "well-established efficacy and safety profile in India for more than 30 years," without elaborating. It added that it was "exploring all possible options at its disposal."
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