Wockhardt gains as German regulator clears Ankaleshwar plant

The stock was up 6% to Rs 713 on the BSE in early morning trade

Wockhardt was up 6% to Rs 713 on the BSE in early morning trade after the drug firm said German regulator has issued European Union Good Manufacturing Practice (EU GMP) certificate to the company's Ankaleshwar facility in Gujarat.

"The competent authority, Berlin, Germany has since issued Certificate confirming that company's manufacturing facility at 138, GIDC Estate, Ankaleshwar, Gujarat, complies with the principles and guidelines of Good Manufacturing Practices," Wockhardt said in a filing to BSE.

The certificate issued in this regard is valid for three years, it added.

The stock was under pressure hitting a 52-week low of Rs 627 on December 27, 2016 in intra-day trade. It fell 37% between August 5 and December 26 after the US Food and Drug Administration (USFDA) issued warning letter to the company for violating current good manufacturing practice norms at its Ankleshwar plant. The S&P BSE Sensex was down 8% during the same period.