 "Wockhardt gains as Daman unit gets GMP certificate from UK MHRA")
Wockhardt was up 4% at Rs 719 on the BSE after the company on Tuesday after market hours said the UK health regulator has confirmed that its Daman-based manufacturing facility complies with good manufacturing practices (GMP).
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 till 10:45 am.
“UK MHRA has since confirmed that the Company's manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of Good Manufacturing Practices,” Wockhardt said in a statement.
In view of this, the approval status of the said unit continues, it added.
The stock of drug firm had hit a 52-week low of Rs 659 on November 23, 2016 in intra-day trade after US Food and Drug Administration ('USFDA') issued a warning letter to C P Pharmaceuticals, Wrexham, United Kingdom, a stepdown subsidiary of the company.
Thus far in 2016, the stock underperformed the market by falling 65% as compared to 2% rise in the S&P BSE Sensex till yesterday.
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 till 10:45 am.
“UK MHRA has since confirmed that the Company's manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of Good Manufacturing Practices,” Wockhardt said in a statement.
In view of this, the approval status of the said unit continues, it added.
The stock of drug firm had hit a 52-week low of Rs 659 on November 23, 2016 in intra-day trade after US Food and Drug Administration ('USFDA') issued a warning letter to C P Pharmaceuticals, Wrexham, United Kingdom, a stepdown subsidiary of the company.
Thus far in 2016, the stock underperformed the market by falling 65% as compared to 2% rise in the S&P BSE Sensex till yesterday.