Syrup deaths in Uzbekistan: Pharmexcil suspends Marion Biotech's membership

In the wake of the controversy surrounding Noida-based Marion Biotech about its medicine for cough and cold allegedly being linked to the deaths of 18 children in Uzbekistan, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) on Friday suspended the membership of the company with immediate effect.

The company will thus be ineligible for incentives under the Market Access Initiative Scheme.

Meanwhile, the data sourced from Tofler shows the Noida-based firm, promoted by Sachin Jain, has seen strong growth in revenues and profitability in the past four-five years.

It posted operating revenues of Rs 93.11 crore in FY22, with