Wockhardt leaving a bitter taste

Wockhard is back in the limelight today but once again, for a good reason. Unfortunately, it is once again about a drug recall. The packaging company for Wockhardt in the USA, Blneheim Pharmacal is the one recalling some 166 bottles of Captopril tablets, used in treatment of blood pressure, and Clarithromycin antibiotic tablets made in the US. This recall is because Blenheim found deviations in current good manufacturing practice norms stated by US Food and Drug Administration (FDA).

For Captopril tablets, the US FDA in its report has stated that this was done following an inspection which noted inadequate investigation of market complaints, resulting in unsuccessful identification of root causes, and the investigation not being expanded to prevent repeat failure.

The stock price is currently down almost 3% at Rs.1334 with an intra day low at Rs.1322.