Wockhardt slips amid quality control issues in US
The US FDA has discovered that the quality control measures at Chicago unit are not followed as per guidelines
SI Reporter Mumbai Shares of Wockhardt were down 3% at Rs 577 on reports that the US FOod and Drug Administration has discovered that the quality control measures at its US plant are not followed as per the prescribed guidelines.
The company's US facility is based in Morton Grove, Chicago and accounts for more than 50% of the sales in the US. In fiscal 2014, revenues from US accounted for 45% of the total income for the Indian pharma major.
The stock opened at Rs 585 and touched a high of Rs 589 and a low of Rs 573 so far on the BSE. Over 671,000 shares were traded on both the stock exchanges so far.
