Wockhardt gallops after CDSCO nod for exporting Sputnik vaccines

Wockhardt rose 4.36% to Rs 404.95 after the drug maker said it received the regulatory approval for exporting up to 100 million doses of Sputnik vaccines.

The drug maker said that it has received permission from the Central Drugs Standard Control Organization (CDSCO) to export up to 80 million doses of Sputnik Light and up to 20 million doses of Sputnik V Component I vaccine.

Wockhardt's Bulk vaccine and Fill-Finish manufacturing facilities at Waluj and Shendra, Aurangabad respectively were jointly inspected and approved by Drug inspectors from CDSCO (West zone) & Aurangabad State FDA and Expert from CDL Kasauli to receive export NOC.

The company has entered into an agreement with Russian Direct Investment Fund and Enso Healthcare to manufacture and supply Sputnik V and Sputnik Light vaccines against COVID-19 based on the technology transfer from Gamaleya National Research Institute of Epidemiology and Microbiology.

Wockhardt is a research based global pharmaceutical and biotech company. It has a significant presence in USA, Europe and India, with 81% of its global revenues coming from international businesses.

On a consolidated basis, Wockhardt reported net loss of Rs 6.78 crore in Q3 December 2021 as against net profit of Rs 15.24 crore in Q3 December 2020. Net sales rose 11.76% to Rs 853.89 crore in Q3 December 2021 over Q3 December 2020.

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