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Friday, July 19, 2024

Pharma company denies hoarding 48m Panadol tablets after raid

The company stated that it continues to supply Panadol products in the country and has adjusted its production capacity to ensure some product availability.

Pharmaceutical company GlaxoSmithKline Consumer HealthCare Pakistan Limited (GSKCH) has rejected the claims related to the hoarding of Panadol tablets intentionally to create a shortage.

In a notice to the Pakistan Stock Exchange, the company refuted the news about the raid on one of its warehouses adding that the stocks at this warehouse were intended to be released and distributed in the country in the normal course of business.

“As GlaxoSmithKline Consumer Healthcare Pakistan Limited (member of the Haleon group), we are led by our purpose of delivering everyday health to humanity. This has been shown through our commitment to the people of Pakistan throughout challenging times”, the company said in a notice.

Read more: Twitter user explains real reason of price increase of medicine in Pakistan

The company further stated that it continues to supply Panadol products in the country and has adjusted its production capacity to ensure some product availability, despite market obstacles.

48 million Panadol tablets confiscated

Pakistan is facing a shortage of widely used over-the-counter (OTC) drug Panadol as the company that produced it has stopped manufacturing the drug due to the exorbitant increase in production costs. The drug began disappearing from local markets and some of the tablets sold by pharmacies were claimed to be fraudulent.

Earlier, the Sindh Health Department raided a warehouse in Karachi’s Hawkesbay area and confiscated 48 million “hoarded” Panadol tablets.

Read more: Why Pakistan faces a Panadol shortage

The development was also confirmed by Karachi Administrator Murtaza Wahab who, in a tweet, said that Panadol tablets were being hoarded at a time when the medicine was important for treating patients.

Interestingly, the incident has divided Twitter. Netizens have lashed out at the company and claimed that such antics bring a bad name to Pakistan and discourage foreign investors.

On the other hand, there are claims that the company produces over 400 million tablets a month and the government conducted a raid on the stocks that were awaiting distribution and wrongly accused the company of “hoarding”.