Abbott India says to comply with government order on drugs ban

An Abbott company logo is pictured at the reception of its office in Mumbai, India, September 8, 2015. REUTERS/Shailesh Andrade

NEW DELHI (Reuters) - U.S.-pharmaceutical giant Abbott Laboratories' India unit ABT.NABOT.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