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Pfizer tumbles on discontinuing manufacturing, sale of Corex cough syrup

14 Mar 2016 Evaluate

Pfizer is currently trading at Rs. 1827.95, down by 99.90 points or 5.18% from its previous closing of Rs. 1927.85 on the BSE.

The scrip opened at Rs. 1890.00 and has touched a high and low of Rs. 1890.00 and Rs. 1821.00 respectively. So far 9,289 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2724.00 on 22-Sep-2015 and a 52 week low of Rs. 1715.00 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1945.00 and Rs. 1821.00 respectively. The current market cap of the company is Rs. 8,339.00 crore.

The promoters holding in the company stood at 63.92% while Institutions and Non-Institutions held 12.86% and 23.22% respectively.

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.


Pfizer Share Price

4954.05 84.80 (1.74%)
17-Apr-2026 16:59 View Price Chart
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