Wockhardt zooms on securing approval from CDSCO for Miqnaf
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Wockhardt is currently trading at Rs. 1538.00, up by 92.25 points or 6.38% from its previous closing of Rs. 1445.75 on the BSE.
The scrip opened at Rs. 1510.05 and has touched a high and low of Rs. 1580.00 and Rs. 1510.05 respectively. So far 50514 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1,580.00 on 3-Jan-2025 and a 52 week low of Rs. 402.85 on 18-Jan-2024.
Last one week high and low of the scrip stood at Rs. 1580.00 and Rs. 1394.05 respectively. The current market cap of the company is Rs. 24889.95 crore.
The promoters holding in the company stood at 51.99%, while Institutions and Non-Institutions held 11.81% and 36.21% respectively.
Wockhardt has received an approval from the Indian drug regulator, Central Drugs Standard Control Organization (CDSCO) for Miqnaf (nafithromycin) as a new treatment for the Community-Acquired Bacterial Pneumonia (CABP) in Adults. Miqnaf is an ultra-short course, once-a-day, 3-day treatment for CABP including those caused by multi-drug resistant (MDR) pathogens. The approval follows a favourable recommendation for manufacture and marketing of Nafithromycin from the Subject Expert Committee (SEC) of CDSCO.
Wockhardt plans to launch Miqnaf in the Indian market in coming few months. Over the period of 25 years, Wockhardt has focused its drug discovery efforts in the area of discovering novel antibiotics for multi-drug resistant infections. This has resulted in a portfolio of 6 products at various stages of clinical development and commercialization, each of which have been granted Qualified Infectious Disease Product status by the US FDA.
Wockhardt is a research based Global Pharmaceutical and Biotech company.
