Wockhardt dips 5% after UK medicines regulator withdraw certification

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Shares of drug maker Wockhardt tanked 5 per cent in early trade on Bombay Stock Exchange (BSE) after UK's medicines regulator withdrew its certification to the company's manufacturing facility situated at L1, MIDC, Chikalthana, Aurangabad.

"The UK's Medicines and Healthcare Products Regulatory Agency (UKMHRA)...has decided to withdraw the previously issued GMP Certificate to the company's manufacturing facility situated at L1, MIDC, Chikalthana, Aurangabad and will be issuing a restricted GMP Certificate to the site along with a statement of non-compliance for the said site," Wockhardt said in a filing to BSE.

Weighed down by development, shares of the company declined as much as 4.99 per cent to trade at Rs 499.30 a piece on the BSE.

In a similar fashion, shares of the company slipped 4.99 per cent to Rs 499.65 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,608.06, up 79.47 points or 0.39 per cent at 9:50 hours.

Read more about: wockhardt
Story first published: Monday, October 14, 2013, 12:57 [IST]
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