Shares of drug giant Pfizer, Cipla and Glenmark rose in a weak market on Thursday after the Delhi high court set aside the Centre’s decision to ban 344 fixed dose combination (FDC) medicines, including well known brands like Corex cough syrup, Vicks Action 500 extra and D’Cold.
Earlier in March, the government moved to ban more than 300 FDC drugs on the plea that their usage was risky for humans and that relatively safer drug were available. Leading pharmaceutical companies had contested the government’s claims, a move that found favour with the Delhi High Court.
As a consequence, Pfizer jumped 1.4 per cent to Rs.1,859. Cipla gained 1.2 per cent to Rs.573 and Glenmark was up 0.7 per cent to Rs.881.