Piramal Enterprises says Saridon exempted from list of banned FDCs by Supreme Court1 min read . Updated: 21 Feb 2019, 02:36 PM IST
- Piramal had earlier been awarded a stay order from the Supreme Court on the ban against Saridon
- Piramal Enterprises shares were trading 1.2% higher at ₹2,221 in noon trade
NEW DELHI : The Supreme Court has ruled in favour of popular painkiller Saridon, exempting its formulation from the list of banned fixed dose combinations (FDCs), Reuters said.
Earlier in September last year, Piramal had been awarded a stay order from the Supreme Court on the ban, which allowed it to continue manufacturing, distribution, and sale of analgesic brand Saridon.
Nandini Piramal, Executive Director, Piramal Enterprises Limited said, they were confident that the law would prevail in their favour.
“Saridon is a heritage brand trusted by customers for the last 50 years in India. This exemption from the banned list of FDCs validates our intent to serve our customers with the highest levels of integrity. We continue to expand our healthcare product portfolio with an aim to be amongst the top three OTC (over-the-counter) product companies in India by 2020," she said in a stock exchange filing.
Saridon is amongst India’s most widely distributed analgesic tablets with a strong distribution network across 9 lakh outlets in India. According to a survey by AC Neilson, 31 Saridon tablets are being sold every second in India.
Piramal Enterprises shares were trading 1.2% higher at ₹2,221 in noon trade.