Pfizer has discontinued the manufacture and sale of its drug ‘Corex’ with immediate effect. The company is exploring all available options at its disposal. This step has been taken after Government of India (GoI) through its notification dated March 10, 2016, prohibited the manufacture for sale, sale and distribution of fixed dose combination of Chlopheniramine Maleate + Codeine Syrup with immediate effect.
The above prohibition is likely to have an adverse impact on the revenue and profitability of the company. Corex recorded a sale of Rs 176 crore for the nine months period ended December 31, 2015. Corex has a well-established efficacy and safety profile in India for more than 30 years. The company makes every effort to maintain the highest standards of regulatory and quality compliance in the manufacture and distribution of Corex Cough Syrup.
Pfizer has produced innovative breakthroughs in a wide range of research areas, including depression, erectile dysfunction, high cholesterol, HIV infection, hypertension, bacterial infections and systemic fungal infections.
Company Name | CMP |
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Sun Pharma Inds. | 1453.25 |
Dr. Reddys Lab | 5792.95 |
Cipla | 1459.85 |
Zydus Lifesciences | 1032.25 |
Lupin | 1583.95 |
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