Wockhardt, as expected, is having a very bad day on the bourses. Hitting an intra day low of Rs.870, it slipped down 14.5%; though it has recovered from there, it remains firmly in the red, down some 10% and amongst the top five losers.

The US FDA has once come to haunt the company. This time, it has banned import of products manufactured at its Ankleshwar plant for non compliance of manufacturing norms.

This Ankleshwar plant manufactures bulk drugs and the import alert under ‘Import Alert 66-40’, authorises the FDA for detention without physical examination of drugs from firms which have not met drug GMPs.

Waluj and Chikalthana units had previously received the Establishment Inspection Report (EIR); the silver lining here being that at least these units do not have an import alert – in fact its Chikalthana got EIR clearance with no observations less than a fortnight ago.