Pharmacy chain CVS Health said this week it would remove from its shelves particular oral cough and cold products with phenylephrine as the sole active ingredient.
In September, a panel of advisers to the US Food and Drug Administration refused to support the effectiveness of oral over-the-counter medicines that contain phenylephrine.
The US health regulator is yet to remove phenylephrine from its list of ingredients for over-the-counter use, as it intends to seek public opinion before a decision is made.
“Other oral cough and cold products will continue to be offered to meet consumer needs,” the US pharmacy chain said in a statement, cited by Reuters.
The shares of CVS Health Corp (CVS) closed 2.21% ($1.56) lower at $69.05 in New York on Friday, as they extended the losses from the previous two market sessions.
The company’s total market cap now stands at $88.688 billion.
The shares of CVS Health Corp have retreated 25.90% so far this year, following another 9.66% loss in 2022.
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