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Stacy Wiegman, PharmD, Pharmacy, answeredNiferex-150 is an over-the-counter medication used to treat and prevent iron deficiencies and anemia. Niferex-150 is a brand name for a medication containing a combination of an iron polysaccharide complex and vitamin C (ascorbic acid). Iron polysaccharide is a form of the mineral iron, which is important for the transport of oxygen in the blood. Vitamin C assists in iron absorption. This medication is available as a capsule containing 150 mg. of iron and 50 mg. of vitamin C.