Wockhardt gains 5% post USFDA fast-tracks nod for anti-infection drugs

The company has received QIDP status from the USFDA for two of its drugs, WCK 771 and WCK 2349.

Wockhdardt has rallied 5% to Rs 724 after the pharmaceutical company has received Qualified Infectious Disease Product (QIDP) status from the US Food and Drug Administration (FDA) for two of its drugs, WCK 771 and WCK 2349.

WCK 771 is an intravenous (IV) drug while WCK 2349 is a solid oral tablet, under anti-infective category. The drugs were also granted five-year extension to the drug patents in the US.

The company said, a QIDP status is granted to drugs which act against pathogens which have a high degree of unmet need in their treatment and are identified by the Centre for Disease Control, US — a top US government health and safety body.

QIDP status allows for fast track review of the drug application by US FDA paving way for an early launch, it added.

The stock opened at Rs 722 and touched a high of Rs 734 on National Stock Exchange (NSE). A combined 460,000 shares changed hands on the counter in early morning deals on NSE and BSE.