Home Retail Pharma market to suffer loss of Rs 1k cr post ban

Pharma market to suffer loss of Rs 1k cr post ban

By  
SHARE

It is expected that the pharmaceutical market will have to suffer an immediate loss of Rs 800-1,000 crore impacting about 2,500 brands on retail shelves as well as in transit, as more drug makers moved court against the Government’s move on irrational medicines.

Pharma market to suffer immediate loss of Rs 1k cr
The sudden move has created confusion among stockists, retailers and patients

Stocks of impacted brands will need to be recalled and destroyed, and companies like , , and started informing stockists and retailers about the banned drugs, asking them to stop selling them with immediate effect.

The sudden move has created confusion among stockists, retailers and patients, forcing certain companies like , and to join Pfizer in challenging the ban in courts, even as the drug industry body, IDMA, said that it is weighing all options. They have been granted interim injunction suspending the implementation of the notification till the next date of hearing on March 21.

Taking the drug industry by surprise, the health ministry, in a notification issued on March 12, prohibited the manufacture, sale and distribution of 344 fixed-dose combinations (FDCs) with immediate effect.

On Tuesday, said that it will stop manufacturing and selling its popular combination medicine, Vicks Action 500 (Paracetamol + Phenylephrine + Caffeine) which is part of the notification.

US consumer health group Procter & Gamble’s Indian business plans to challenge a Government ban on its cough-and-cold medicine , citing potential health risks.

Procter & Gamble Hygiene and Health Care said that while it had stopped selling the product, it was evaluating all options to challenge the ban.