Pfizer Limited Initiates Voluntary Recall Of Magnex 1gm, 2gm, Magnex Forte 1.5gm, 3gm, Zosyn 4.5gm and Magnamycin 250mg, 1gm, 2gm Injections

Pfizer Limited has decided to initiate a voluntary recall of(i) Magnex 1gm, 2gm; (ii) Magnex Forte 1.5gm, 3gm; (iii) Zosyn 4.5gm; and (iv) Magnamycin 250mg, 1gm, 2gm injections manufactured by Astral SteriTech Private Limited ("Astral") and marketed/distributed by Pfizer Limited ("the Company"). Pfizer places the utmost emphasis on patient safety and product quality at every step in the manufacturing and supply chain process. The Company was informed by its contract manufacturer in India, Astral SteriTech Private Ltd, that it has observed an out-of-specification during a routine environmental monitoring of its manufacturing block.

Astral manufactures three products for Pfizer, namely, Magnex, Magnamycin and Zosyn. While this issue is presently being investigated, out of an abundance of caution, Pfizer has decided to voluntarily recall from the market, all batches of these three products. Pfizer is taking all necessary steps to resolve the situation.

The above voluntary recall is likely to have an impact on the revenue and profitability of the Company. The said Products recorded a sale of INR 1,390 million for the year ended on March 31, 2023.