Wockhardt to Feel the Shrink after the Recall of Some Batches
Published By : 28 Apr 2015 | Published By : QYRESEARCH
The shares of Wockhardt have been trading lower by almost 5% at Rs 1,280, which has exceeded its last day’s 18% fall on the NSE. This change was after the drug manufacturing company informed that they have planned to recall the left over batches of some drugs, as a remedial measure. These drugs were produced in their facilities at L1- Chikalthana and Waluj in Aurangabad district in Maharashtra.
Wockhardt further stated that in the last cGMP inspection of U.S. FDA at their Aurangabad unit, some observations have been reported regarding the batches of some specific products which were manufactured before to the import alerts given by the U.S. FDA.
The company has continued with its supply of some of the products in the U.S. market which were manufactured in the Aurangabad facilities and many more batches of other products, produced before to the import alerts might be still present in the U.S. market.
The company further added that as an essential precautionary measure they made a decision to go for a recall, as a remedial step for all the left over batches in the U.S. market, which were produced before to the import alerts provided by the US FDA. This step is taken by the company even though there is no such evidence of risk for safety of patient from these products which are presently available in the U.S. market.
In addition, the MHRA, of U.K. has also restored the EU GMP certificate of the company for potent product unit based at Kadaiya in Daman.
The stock of the company opened at 1,255 Rs and reached a low of 1,202 Rs on the NSE. A combined 2.73 million shares have been responsible for exchange on the counter till 1001 hours on the BSE and the NSE.