Wockhardt extends fall on buzz of FDA probe

The US drug regulator has sought clarifications on the Wockhardt's injectables facility in Aurangabad.

Wockhardt has tanked 10% to Rs 1,577 in noon deals, extending its Friday’s 10% fall, on reports that the US drug regulator has sought clarifications on the company’s injectables facility in Aurangabad.

“A United States Food and Drug Administration (USFDA) team inspected the facility in last month, had issued a 483 form through a routine course of inspection,” the DNA report suggests.

A form 483 is issued when the FDA observes any violation from standard manufacturing practices, which is generally followed by a warning letter if the agency is not satisfied with the responses.

The stock opened at Rs 1,738 and hit a high of Rs 1,815 on NSE. A combined 453,812 shares changed hands on the counter till 1254 hours against an average 214,000 shares that were traded daily in past two weeks on NSE and BSE.