Wockhardt surges 11% as USFDA completes inspection in two Maharashtra plants

NEW DELHI: Wockhardt Ltd closed the day on BSE at Rs 1,575.05; up 10.67%. The stock surged as much as 11.57 per cent in intraday trade after reports that US Food and Drug Administration (FDA) had completed its inspection at its plants in Waluj and Chikalthana in Maharashtra.

Last month, pharmaceuticals major Wockhardt recalled 13 drugs in the US, manufactured at its two units at Chikalthana and Waluj in Maharashtra.

Wockhardt's L1 Chikalthana facility was under import alert for its drug Metoprolol XR used for treating blood pressure, while the Waluj facility that makes injectables and solid dosages was also put under import restrictions by the US Food and Drug Administration (USFDA) in 2013.

In a filing to the BSE, the company had then said that during an inspection of the facilities at L1- Chikalthana and Waluj in Aurangabad, the USFDA had made some observations pertaining to batches of some products manufactured prior to the import alerts.

"As a measure of preparedness and as an abundant precaution, the company has now decided to recall, as a part of remedial measure all the remaining batches (of drugs) in the US market that were manufactured prior to the USFDA import alerts even though there is no evidence of risk to patient safety from the products currently available in the US market," the company had said.

It had also said that several batches of other products, manufactured prior to the import alerts may still be in the US market.