Wockhardt climbs into the green

Yesterday, after market hours, Wockhardt announced the the US FDA carried out inspection of its Bioequivalence Centre located at R&D Centre, Aurangabad from 10th - 12th June 2019.

The FDA audited Bioanalytical and Quality systems of Bioequivalence studies of Tamsulosin 0.4mg capsules and Metoprolol ER tablets.

At the end of inspection, there was NO or zero 483 observation, signifying that best practices were followed, in compliance to regulations.

This outcome would lead approvals of ANDAs in pipeline for which Bioequivalence studies are being or will be done in the said Centre.

The stock price has reacted positively to this news and it opened higher 2% at Rs.390.50 and touched an intraday high of Rs.398, rising 4%.