Wockhardt slumps 31% in 2-days on FDI alert

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts
    Wockhardt slumps 31% in 2-days on FDI alert
    Wockhardt: Quotes, News
    BSE 393.45BSE Quote4.5 (-1.14%)
    NSE 393.70NSE Quote3.7 (-0.94%)
    Shares in pharma major Wockhardt were down another 11 per cent, after falling 20 per cent on Thursday after the U.S. Food and Drug Administration imposed an "import alert" on a plant operated by the generic drugmaker. The stock is at the lowest level since August 2012.

    An "import alert", effectively a ban, results in detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, according to the FDA website.
    Wockhardt had said on Thursday that FDA alert could potentially affect $100 million in revenue on an annualised basis, but said it should be able to restore most of that within 6 to 9 months by shifting production to other facilities.

    Wockhardt shares were down nearly 11 percent at 10.45 am.


    Read more about: wockhardt
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more