 "Wockhardt hits 52-week low")
Shares of Wockhardt have dipped to its 52-week low at Rs 1,063, down 7% on the National Stock Exchange (NSE) in early morning trade in otherwise firm market.
Since January 15, 2016 the stock of drug maker has fallen 30% from Rs 1,515 after the US Food and Drugs Administration (FDA) raises concerns about manufacturing practices at the company’s Shendra plant in Maharashtra. The Nifty 50 index was down 0.28% during the period.
Wockhardt said that US FDA has made 9 observations for which appropriate reply would be submitted to inspecting authority in due course.
"Inspection of our manufacturing unit at E-1/1, MIDC, Shendra, Aurangabad by US FDA has since been completed. Further to inform you that Shendra manufacturing unit is a new facility and presently there are no supply of products from the said Unit to USA markets,” the company said in a regulatory filing on January 15.
Meanwhile, Wockhardt is schedule to announce its December 31, 2015 (Q3) quarter results on February 11, 2016.
At 09:56 AM, the stock was down 4.3% at Rs 1,094 as compared to 0.75% rise in Nifty 50 index. A combined 1.60 million shares changed hands on the counter on the NSE and BSE.
Since January 15, 2016 the stock of drug maker has fallen 30% from Rs 1,515 after the US Food and Drugs Administration (FDA) raises concerns about manufacturing practices at the company’s Shendra plant in Maharashtra. The Nifty 50 index was down 0.28% during the period.
Wockhardt said that US FDA has made 9 observations for which appropriate reply would be submitted to inspecting authority in due course.
"Inspection of our manufacturing unit at E-1/1, MIDC, Shendra, Aurangabad by US FDA has since been completed. Further to inform you that Shendra manufacturing unit is a new facility and presently there are no supply of products from the said Unit to USA markets,” the company said in a regulatory filing on January 15.
Meanwhile, Wockhardt is schedule to announce its December 31, 2015 (Q3) quarter results on February 11, 2016.
At 09:56 AM, the stock was down 4.3% at Rs 1,094 as compared to 0.75% rise in Nifty 50 index. A combined 1.60 million shares changed hands on the counter on the NSE and BSE.
