8 ON YOUR SIDE: CVS is pulling some of the most popular cold medicines from shelves

8 ON YOUR SIDE: Pharmacy chain CVS says it is pulling some popular cold and cough medications from store shelves, weeks after advisers to the Food and Drug Administration deemed a common ingredient was ineffective.

CVS told CBS MoneyWatch that it will no longer sell products that only contain phenylephrine as an active ingredient at its pharmacy stores.

CVS said it is aware of the FDA Advisory Committee’s position on oral phenylephrine and is committed to complying with all applicable laws and regulations. It is pulling the decongestants voluntarily.

Oral phenylephrine is found in Dayquil, Mucinex Sinus-Max, Sudafed PE Sinus Congestion, Theraflu and other popular medications sold at pharmacies across the U.S.

“Modern studies, when well conducted, are not showing any improvement in congestion with phenylephrine,” Dr. Mark Dykewicz, an allergy specialist at the Saint Louis University School of Medicine, said last month.

Decongestants with phenylephrine account for roughly $1.8 billion in annual sales, according to the FDA.

— Information from CBS News and the Associated Press