Stockists, retailers resume purchases from GlaxoSmithKline

Drug maker GlaxoSmithKline Pharmaceuticals on Wednesday said stockists and retailers have resumed purchasing its products across India from the last week of November.

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

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

In August, a number of GlaxoSmithKline products had come under the Drug Price Control Order (DPCO) 2013, which came into effect in May, 2013, resulting in a reduction of prices.

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 in GlaxoSmithKline Pharmaceuticals, on Wednesday, ended at Rs 2,462.95 apiece on the BSE, down 1.08 per cent from the previous close.