Wockhardt surges as plant gets German regulator's clearance

Shares of drug firm Wockhardt today surged over 5.5 per cent following news that German regulator has issued European Union Good Manufacturing Practice certificate to the company's Ankaleshwar facility in Gujarat.
The stock soared 5.55 per cent to end at Rs 710.70 on BSE. During the day, it zoomed 8.12 per cent to Rs 728.
At NSE, shares of the company jumped 5.56 per cent to end at Rs 710.90.
In terms of volume, 9.16 lakh shares of the company were traded on the BSE and over 64 lakh shares changed hands at NSE during the day.
"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 yesterday.

The certificate issued in this regard is valid for three years, it added.
The nod from the German regulator comes after the issuance of a warning letter by the US Food and Drug Administration (USFDA) to the company for violating current good manufacturing practice norms, including its failure to ensure proper clothing for workers at its Ankleshwar plant.