Abbott India says to comply with government order on drugs ban
[NEW DELHI] US-pharmaceutical giant Abbott Laboratories' India unit will comply with all legal requirements of a government order that bans more than 300 combination drugs in the country, a company spokesman said on Monday.
India banned 344 drug combinations over the weekend, including Abbott's codeine-based cough syrup, after a government panel of experts found they had "no therapeutic justification".
Abbott's Phensedyl cough syrup accounts for about a third of the Indian cough syrup market, and its sales are estimated to make up more than 3 per cent of the company's US$1 billion India revenue.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion
Abbott beats quarterly profit estimates on strong medical device sales
Adidas shares surpass two-year high as 'terrace' sneaker trend boosts brand heat