Stockists, retailers have resumed product purchases:GSK Pharma

Written by PTI | New Delhi | Updated: Dec 12 2013, 00:31am hrs
GSKGSK Pharma sales were affected as stockists & retailers had stopped purchasing its products since Sept 15.
Drug maker GlaxoSmithKline Pharmaceuticals said stockists and retailers have resumed purchasing its products across the country from the last week of November.

The company's sales were affected in the major pockets of the country as stockists and retailers had stopped purchasing its products since September 15.

"...the trade has resumed the purchase of the company's products across the country since last week of November 2013," GlaxoSmithKline Pharmaceuticals said in a filing to the BSE.

In August, the company had said that a number of its products have come under the Drug Price Control Order (DPCO) 2013, which came into effect in May 2013, resulting in reduction of prices of the company's drugs.

The company had estimated a 5 per cent impact on an annualised basis on its sales and turnover, due to retailers and stockists staying away from its products.

Shares of GlaxoSmithKline Pharmaceuticals today closed at Rs 2,462.95 per scrip on BSE, down 1.08 per cent from their previous close.