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.
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.
GSK sternly rejects the allegations of hoarding Panadol. pic.twitter.com/W1daYIrzvZ
— Rao (@CasualRao) September 16, 2022
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.
48 Million Panadol tablets have been confiscated by the Drug Inspector from a warehouse in #Karachi. At a time, when this tablet is important for treating patients, it was being hoarded. Good assertiveness shown by the administration. Legal action is being further taken pic.twitter.com/G54agCJRvT
— Murtaza Wahab Siddiqui (@murtazawahab1) September 15, 2022
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.
This GSK warehouse raid saga is embarassing. Next time someone talks about FDI, risk premium or anything related to investing in Pakistan – they deserve a slap.
Pakistan is univestable.
— AK (@AzamAKhan2) September 16, 2022
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”.
Sindh Gov is pretty much a joke in itself, they raided Connect Logistics warehouse which is an official Logistics partner of GSK; the company that produces Panadol. These could be supplies to go somewhere else in the country. How is hoarding established and alleged here https://t.co/JCdJNZ3q64
— Ahsan (@ahsanzawar) September 15, 2022