Advertisement
Singapore markets closed

  • Straits Times Index

    3,272.72
    +47.55 (+1.47%)
     

  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     

  • Dow

    38,239.98
    +253.58 (+0.67%)
     

  • Nasdaq

    15,451.31
    +169.30 (+1.11%)
     

  • Bitcoin USD

    66,287.88
    +158.30 (+0.24%)
     

  • CMC Crypto 200

    1,425.08
    +10.32 (+0.73%)
     

  • FTSE 100

    8,067.34
    +43.47 (+0.54%)
     

  • Gold

    2,317.90
    -28.50 (-1.21%)
     

  • Crude Oil

    81.72
    -0.18 (-0.22%)
     

  • 10-Yr Bond

    4.6230
    +0.0080 (+0.17%)
     

  • Nikkei

    37,552.16
    +113.55 (+0.30%)
     

  • Hang Seng

    16,828.93
    +317.24 (+1.92%)
     

  • FTSE Bursa Malaysia

    1,561.64
    +2.05 (+0.13%)
     

  • Jakarta Composite Index

    7,110.81
    +36.99 (+0.52%)
     

  • PSE Index

    6,506.80
    +62.72 (+0.97%)
     

Abbott India says to comply with government order on drugs ban

Reuters

NEW DELHI (Reuters) - 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)