Corex Cough Syrup by Pfizer Inc. Banned in India as it poses risk to humans
March 14 2016, India’s unit of Pfizer Inc., US pharmaceutical giant declared that it had stopped selling its popular Corex cough syrup, after regulators banned it saying it was prone to pose a risk to humans.
Over the weekend India banned Corex which is an amalgamation of chlopheniramine maleate and codeine syrup one of 344 drug combinations after a government panel of experts found that they had no therapeutic explanation.
All these medicines have penetrated the market over the years based on the approval by the regulators of individual states, rather the central government, as required lawfully.
The company mentioned in a statement that the opinion on Corex is anticipated to hit Pfizer's profit and revenue as Corex acquired sales of about 1.76 billion rupees ($26.30 million) to Pfizer in the 9 months ended December 2015.
Pfizer mentioned that it believed Corex had an "uncompromising efficiency and safety profile in India for more than 30 years. Additionally, it was scrutinizing all plausible options at its disposal.
Abbott Laboratories Ltd, Another U.S. drug maker also sells a codeine-based cough syrup brand in India by the name Phensedyl, which accounts for approximately one third of the Indian cough syrup market.
Phensedyl sales are anticipated to make up more than 3% of Abbott's $1 billion India revenue. On Monday Abbott was not available to comment shortly, however the company aforesaid on Sunday that it was still estimating the impact of the ban.
According to Pharmaion, the regulators from India must pressure drug manufacturers to check the selling of these popular codeine-based cough syrups to tackle addiction and smuggling and ban these products in the market as they are dangerous to humans.