Wockhardt shares extend fall, down over 6% at close

Extending losses, Wockhardt shares today closed over 6 per cent down after the US health regulator in its 'observations' last week highlighted violation of norms at the company's Shendra plant.
Meanwhile, the company said today that the nine observations received by it for its Shendra facility in Aurangabad from the USFDA are not 'critical' in nature and half of the issues will be resolved in the next fortnight, helping the shares regain some lost ground.
The stock plunged 6.22 per cent to settle at Rs 1,208.30 on the BSE. During the day, it tumbled 11 per cent to Rs 1,146.40.

On NSE, the stock dipped by 6 per cent to end at Rs 1,209.55.
Wockhardt shares had slumped 15 per cent on Friday also. The company has lost Rs 3,392.18 crore to Rs 13,351.82 crore in 2 days.
The observations were made by the USFDA in Form 483, which is issued to firm management at the conclusion of an inspection by its investigator, highlighting any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.
Besides, it emerged on Thursday that 62,555 bottles of anti-biotic Azithromycin tablets manufactured by Wockhardt are being recalled by PD-Rx Pharmaceuticals Inc in the US market.

The tablets are in the strengths of 250 mg (45,022 bottles) and 500 mg (17,533 bottles).