TataMadiba
JF-Expert Member
- Feb 7, 2014
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Dar es Salaam – Injectable medication of Indian drug company Lincoln Pharmaceuticals has been banned in Tanzania and this resulted with the fall in its shares in home country.
On Bombay Stock Exchange (BSE) its shares dropped by 19.96 percent.
The company revealed its business has fallen due to the imposed ban to Chloramphenicol Sodium Succinate Injection that is used in the treatment of serious bacterial infections.
Chloramphenicol Sodium Succinate Injection is an antibiotic and the highest selling product of Lincoln Pharma.
According to Tanzania Food and Drugs Authority (TFDA), the ban has been imposed after receiving several complaints about the drug by people in Tanzania.
TFDA manager of Communications, Ms Gaudensia Simwaza, said the medication was banned in 2015 and the operating license of the drug maker has been revoked in Tanzania since then.
Meanwhile, hugh quantity of raw materials is said to have been piled up in the factory of the drug company after the rejection of registration and this will create great impact on the profit margin.
In 2015 the TFDA revoked registration of five types of medicine and had also altered use of four other types including Ketoconazole tablets and capsules said to be causing liver toxicity and Amodiaquine.
The authority said the latest move was to improve quality and safety of drugs in the country as it has been realized several substandard and harmful drugs are being marketed in the country.
On Bombay Stock Exchange (BSE) its shares dropped by 19.96 percent.
The company revealed its business has fallen due to the imposed ban to Chloramphenicol Sodium Succinate Injection that is used in the treatment of serious bacterial infections.
Chloramphenicol Sodium Succinate Injection is an antibiotic and the highest selling product of Lincoln Pharma.
According to Tanzania Food and Drugs Authority (TFDA), the ban has been imposed after receiving several complaints about the drug by people in Tanzania.
TFDA manager of Communications, Ms Gaudensia Simwaza, said the medication was banned in 2015 and the operating license of the drug maker has been revoked in Tanzania since then.
Meanwhile, hugh quantity of raw materials is said to have been piled up in the factory of the drug company after the rejection of registration and this will create great impact on the profit margin.
In 2015 the TFDA revoked registration of five types of medicine and had also altered use of four other types including Ketoconazole tablets and capsules said to be causing liver toxicity and Amodiaquine.
The authority said the latest move was to improve quality and safety of drugs in the country as it has been realized several substandard and harmful drugs are being marketed in the country.
