homehealthcare NewsWe have a track record of managing any financial setbacks: GSK Pharma on suspension of Ranitidine
We have a track record of managing any financial setbacks: GSK Pharma on suspension of Ranitidine
GlaxoSmithKline Pharmaceuticals on Friday said that the company will soon figure out a way to manage the financials of the company, which may be impacted due to the suspension of Ranitidine. “We have a track record of managing any financial setbacks," said A Vaidheesh, VP and South Asia MD, GSK Pharma.
GSK has decided to suspend the sale of drug Ranitidine or Zinetac, which is used to reduce stomach acid, to all countries including India. The stock remained under pressure on the back of this news in Thursday's session.
GSK globally was contacted by regulatory authorities about the N-nitrosodimethylamine (NDMA) levels, said Vaidheesh, adding “while the tests and investigations are going on... as a precautionary approach on a global basis, we have taken a recall and that includes India."
Vaidheesh said, “Since it’s a recent event I would recommend the patients to talk to their respective doctors about the limiting factor in this. One should not get into rumour but instead talk to the medical practitioners.”
Talking about the market size of Ranitidine, he said, “For us, the sales or profits are not the first priority at this point of time considering that this issue is being discussed with regulatory authorities. Our responsibility is to make sure our patients get the first priority.”
Vaidheesh said he is expecting the test results to come by the end of September or during the first week of October.
About API, he said, “All active pharmaceutical ingredients (API) related products are kept on hold till the time we get final confirmation.”
First Published: Sept 27, 2019 9:17 AM IST
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