Wockhardt slips amid quality control issues in US

The US FDA has discovered that the quality control measures at Chicago unit are not followed as per guidelines

Image
SI Reporter Mumbai
Last Updated : Jun 04 2014 | 11:56 AM IST
Shares of Wockhardt were down 3% at Rs 577 on reports that the US FOod and Drug Administration has discovered that the quality control measures at its US plant are not followed as per the prescribed guidelines.

The company's US facility is based in Morton Grove, Chicago and accounts for more than 50% of the sales in the US. In fiscal 2014, revenues from US accounted for 45% of the total income for the Indian pharma major.

The stock opened at Rs 585 and touched a high of Rs 589 and a low of Rs 573 so far on the BSE. Over 671,000 shares were traded on both the stock exchanges so far.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 04 2014 | 11:23 AM IST

Next Story