India, Sept. 24 -- Pfizer on Tuesday said patient safety and product quality are its highest priorities, reacting to the Karnataka Food and Drug Administration's (FDA) action regarding the circulation of counterfeit drugs.

The Karnataka health regulator on Sunday said it has cancelled 16 drug licences of retailers and wholesalers and suspended eight others in connection with the alleged distribution and sale of spurious medicines.

"Patient safety and product quality are of the highest priority for us at Pfizer," the company said in a statement late on Tuesday evening.

Pfizer claimed that it has been working with authorities for the last one month since the matter was brought to its attention.

"Since then, we have taken several actions...