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Health

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

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