This may help contain the problem of anti-microbial drug resistance
Wockhardt which has received US FDA warning letters on four of its plants is now facing an issue with Ireland's drug regulator.The Irish drug regulator did not recommend the renewal of good manufacturing practices (GMP) certificate of Wockhardt's Shendra plant in Maharashtra and has advised the drug maker to to take corrective actions following an inspection. This is contrary to the claim made by Wockhardt in its notification to the stock exchange on Tuesday in which it said Irish regulator has recommended the renewal of the GMP certificate.The development comes within a week of US Food and Drugs Administration issuing a warning letter to Wockhardt's manufacturing unit in the US.In an emailed response Ireland's Health Products Regulatory Authority (HPRA) said an inspection was carried at Shendra for five days till March 3 covering some non sterile dosage forms. Injectable dosage forms were not within the scope of the inspection." The company (Wockhardt) was advised that corrective ..
The stock dipped nearly 7% to Rs 701 on the BSE in early morning trade
Three Indian plants already under alert; Non-compliance shaves off 66% in US revenue in last 4 years
The stock was up 6% to Rs 713 on the BSE in early morning trade
USFDA had issued warning to the company for violating good manufacturing practice norms
Share of US business revenue down to 17%
USFDA has already banned the import of products from the facility into the US market since August 5, 2016
Three of firm's units under import alert; FDA cites failure to check microbiological contamination
On BSE, the scrip opened at Rs 699 and jumped 3.24 per cent to an early high of Rs 704.
Executive Director of Wockhardt Ltd Huzaifa Khorakiwala has launched a healthcare angel fund
The stock hit an intra-day high of Rs 723, with a combined 1.6 million shares exchanging hands on the counter on the BSE and NSE
The stock hit a fresh 52-week low of Rs 659, down 4.5% on BSE in early morning trade.
US sales continue to decline, pressuring profit and dampening the Street sentiment
The stock hit a 52-week low of Rs 683 in intra-day trade, down 16% in past seven trading sessions post Q2 results.
In December 2015, Wockhardt received a GMP certificate from the UK health regulator for its Chikalthana plant after an inspection
The stock urged 14% to Rs 959 on the NSE on back of heavy volumes.
Wockhardt on Saturday reported a fall of 82.65 per cent in consolidated net profit to Rs 15.89 crore for the first quarter ended June 30
Company has always believed that R&D is the key to the future, said Wockhardt Chairman and group CEO Habil Khorakiwala
The India business of the company grew a marginal 10 per cent, despite launching 11 new products in the market