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Pfizer stock slumps 9% following ban on Corex cough syrup

15-March-2016
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Pfizer stock slumps 9% following ban on Corex cough syrup

Pharmaceutical major Pfizer and Abott have discontinued the sale and manufacture of their popular cough syrups like Corex and Phensedyl, respectively, following a new order by the Government to ban their use. According to reports, Health Ministry has banned about 344 fixed-dose combination drugs, including cough syrups compositions, saying they involve "risk" to humans and safer alternatives were available.  Following a ban on Corex, the stock prices of Pfizer slumped by 9%.

According to Pfizer’s BSE filing:

Late Monday evening, Corex was also trending on Twitter and there was a lot of conversation happening on social media about the latest ban.

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