Wockhardt: FDA booster

STOCK IN THE NEWS

The company got approval from the US FDA for marketing Ketorolac anti-inflammatory injection in the US market. This is its third US FDA approvalin the last 10 days.

Earlier last week the company got approval for marketing Furosemide injection and approval of painkiller tablets containing a combination of Dextropropoxyphene napsylate and Acetaminophen in the US.

The stock appreciated more than 4 per cent after the announcement. In last one week, the stock moved from Rs 382.10 on March 23 to close at Rs 397.65 on Friday. Export income accounts for one-third of the total income of the company.

Ketorolac anti-inflammatory injection is the company's fifth injection product in the US. The product is a potent non-steroidal anti-inflammatory drug used in the management of acute pain following surgery and trauma.

Furosemide injection is one of the most widely used diuretics (drugs that promote excretion of urine) in hospitals and ICUs in several life-threatening conditions.

Over 40 million vials of Ketorolac injections, valued at $36 million, are consumed annually by hospitals across the US, as per IMS. The company currently markets 15 products in the US, with two more to be launched soon.