Tanzania bans bacteria-fighting injection, cancels manufacturer's registration
The Chloramphenicol Sodium Succinate injection is the highest-selling product in its category. Health professionals use this antibiotic to treat serious infections that are caused by bacteria.
Lincoln Pharmaceuticals has declined to explain why the injection has been prohibited in Tanzania.
"Lincoln Pharmaceuticals Ltd. is exporting medicines to many African countries,” a company representative said. “Tanzania Drug Authority (TFDA) has banned import of this product and company's registration has been cancelled.”
This ban will significantly affect the company’s profit margin; in light of this news, the company’s shares have fallen by 17.28 percent. In addition, there remains a large quantity of packaging material and raw material stockpiled at the company’s factory. These factors also affect Lincoln Pharmaceuticals’ profit margin.
"In this circumstance a huge quantity dispatched to Tanzania has (been) kept on hold there and the authority has issued a notice to destroy the product,” the Lincoln Pharmaceuticals representative said.