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Wockhardt gains after French regulator clears Ankleshwar plant

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Wockhardt rose 1.06% to Rs 257.1 at 14:41 IST on BSE after the company's manufacturing facility at Ankleshwar received GMP Compliance Certificate from the French National Agency for Medicines and Health Products Safety.

The drug maker said that French National Agency for Medicines and Health Products Safety has issued GMP Compliance Certificate as the company's manufacturing unit at Ankleshwar (Gujarat) complies with the principles of good manufacturing practices for active substances. This is reflected in the Eudra GMDP database. The said GMP Compliance Certificate is valid for a period of 3 years upto 2 April 2022.

On the BSE, 50872 shares were traded in the counter so far compared with average daily volumes of 90546 shares in the past one quarter. The stock hit a high of Rs 260.7 and a low of Rs 247.8 so far during the day. The stock hit a 52-week high of Rs 691.3 on 17 Sep 2018. The stock hit a 52-week low of Rs 260.7 on 23 Aug 2019.

The stock had underperformed the market over the past one month, falling 24.13% compared with 4.10% fall in the Sensex. The scrip has also underperformed the market in past one year, falling 61.11% as against Sensex's 4.86% fall.

On a consolidated basis, the pharma company reported a net loss of Rs 44.98 crore in Q1 June 2019 over a net loss of Rs 95.06 crore in Q1 June 2018. Net sales declined 14.3% to Rs 863.11 crore in Q1 June 2019 over Q1 June 2018.

Wockhardt is a global pharmaceutical and biotechnology company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 23 2019. 14:45 IST