Wockhardt extends fall after recalling drugs in US

The stock is down 5% at Rs 1,280, extending its previous day's 18% fall on the NSE.

Shares of Wockhardt were trading lower by 5% at Rs 1,280, extending its previous day’s 18% fall on the NSE, after the drug maker said that it has decided to recall the remaining batches of some products manufactured in the facilities at L1- Chikalthana and Waluj in Aurangabad, Maharashtra, as a part of remedial measure.

Wockhardt said during the last US Food and Drug Administration (FDA) cGMP inspection of the facilities at L1- Chikalthana and Waluj in Aurangabad, Maharashtra, some observations were reported pertaining to batches of some products manufactured prior to the US FDA Import alerts.

Whereas the company continues to supply some of the products in the US market manufactured in the same facilities, several batches of other products, manufactured prior to the import alerts may still be in the US market.

"As a measure of preparedness and as an abundant precaution, the company has now decided to recall, as a part of remedial measure all the remaining batches in the US market that were manufactured prior to the US FDA import alerts even though there is no evidence of risk to patient safety from the products currently available in the US market," it added.

Additionally, the MHRA, UK has restored the EU GMP certification of the company's potent product facility at Kadaiya, Daman.

The stock opened at Rs 1,255 and touched a low of Rs 1,202 on the NSE. A combined 2.73 million shares have changed hands on the counter till 1001 hours on the NSE and BSE.