 "Wockhardt hits fresh 52-week low on warning letter to C P Pharma")
Wockhardt hit a fresh 52-week low of Rs 659, down 4.5% on BSE in early morning trade after the company’s UK arm, CP Pharmaceuticals, received a warning letter from the US drug regulator.
“U.S. Food and Drug Administration (USFDA) has issued a warning letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom, a stepdown subsidiary of the company,” Wockhardt said in a BSE filing.
Currently, there is no business being conducted from C P Pharmaceuticals to the US Market. C P Pharmaceuticals has already initiated required steps to address the concerns raised by USFDA and will be responding to the agency within the prescribed time, it added.
Post July-September (Q2FY17) results, the stock down 19% from Rs 814 on November 10, as compared to 5.4% decline in the S&P BSE Sensex.
At 09:30 am, the stock was down 3% at Rs 667 on BSE against 0.26% rise in the benchmark index. A combined 513,726 shares changed hands on the counter on BSE and NSE.
“U.S. Food and Drug Administration (USFDA) has issued a warning letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom, a stepdown subsidiary of the company,” Wockhardt said in a BSE filing.
Currently, there is no business being conducted from C P Pharmaceuticals to the US Market. C P Pharmaceuticals has already initiated required steps to address the concerns raised by USFDA and will be responding to the agency within the prescribed time, it added.
Post July-September (Q2FY17) results, the stock down 19% from Rs 814 on November 10, as compared to 5.4% decline in the S&P BSE Sensex.
At 09:30 am, the stock was down 3% at Rs 667 on BSE against 0.26% rise in the benchmark index. A combined 513,726 shares changed hands on the counter on BSE and NSE.