NEW DELHI U.S.-pharmaceutical giant Abbott Laboratories' India unit (ABT.N) (ABOT.NS) 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 percent of the company's $1 billion India revenue.
(Reporting by Aditya Kalra and Zeba Siddiqui; Editing by Paritosh Bansal)
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Published Date: Mar 14, 2016 05:36 pm | Updated Date: Mar 14, 2016 05:36 pm