Wockhardt has surged nearly 16% to Rs 713, extending its past four days rally, on back of positive developments in the company.
The stock opened at Rs 656 and hit a low of Rs 652 in early morning deals on the BSE. A combined around one million shares have change hands on the counter till 0925 hours as against an average sub one million shares that were traded daily in past two weeks.
Meanwhile, shares of the pharmaceutical firm have surged 62% in last one week from Rs 441 on BSE.
On Tuesday, Wockhardt jumped 20% after the company inked a settlement of a pending patent litigation with US-based Avanir Pharmaceuticals Inc.
The settlement gives Wockhardt the rights to start selling a generic version of Nuedexta on July 30, 2026 or earlier, under certain circumstances.
The settlement agreement, in compliance with US law, will go to the US Federal Trade Commission and the Department of Justice. Both parties have also agreed to file a stipulation and order of dismissal with the District court of Delaware, which will end the litigation with respect to Wockhardt.
Last week the company said its promoter, Khorakiwala Holdings & Investments Private Ltd, had acquired 211,094 equity shares of the pharmaceutical company via market purchase.
The stock opened at Rs 656 and hit a low of Rs 652 in early morning deals on the BSE. A combined around one million shares have change hands on the counter till 0925 hours as against an average sub one million shares that were traded daily in past two weeks.
Meanwhile, shares of the pharmaceutical firm have surged 62% in last one week from Rs 441 on BSE.
On Tuesday, Wockhardt jumped 20% after the company inked a settlement of a pending patent litigation with US-based Avanir Pharmaceuticals Inc.
The settlement gives Wockhardt the rights to start selling a generic version of Nuedexta on July 30, 2026 or earlier, under certain circumstances.
The settlement agreement, in compliance with US law, will go to the US Federal Trade Commission and the Department of Justice. Both parties have also agreed to file a stipulation and order of dismissal with the District court of Delaware, which will end the litigation with respect to Wockhardt.
Last week the company said its promoter, Khorakiwala Holdings & Investments Private Ltd, had acquired 211,094 equity shares of the pharmaceutical company via market purchase.
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