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 following a new order by the Government to ban their use
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.
Yes, in Punj& now in U.P, Maha, Corex clones, advertised freely. Regulator asleep, may be high on "cough" syrup too https://t.co/pNEvlRWLcn— Shekhar Gupta (@ShekharGupta) March 14, 2016
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Luckily i have got 2 bottles of #Corex that is banned right decision to ban too coz in states like delhi&punjab youngsters r doing wrng use— Kartikmalhotra (@kartik_sm91896) March 14, 2016
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