Wockhardt has received approval from the United States Foods &Drugs Administration (USFDA) for an ANDA for 1gm, 2 gm injections of Oxacillin.
Oxacillin is a penicillinase-resistant beta-lactam antibiotic and is used to treat many different infections caused by penicillinase-resistant Staphylococcal and other bacterial injections such as Urinary Tract Infections, Septicemia, Wound Infection, Bacterial meningitis etc.
Wockhardt is expected to launch this product in the United States soon. The product is being manufactured at a contract manufacturing facility based near Milan, Italy.
On the financial front, Wockhardt’s consolidated revenue declined to Rs 891 crore in Q1FY18 on YoY basis. It has reported net loss of Rs 463 crore in Q1FY18 vs net profit of Rs 15.9 crore in Q1FY17.
Stock View:
Wockhardt Ltd is currently trading at Rs 605.6, up by Rs 5.6 or 0.93% from its previous closing of Rs 600 on the BSE.
The scrip opened at Rs 600 and has touched a high and low of Rs 611.3 and Rs 600 respectively. So far 201056(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 6630.48 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1026.45 on 04-Aug-2016 and a 52 week low of Rs 555 on 22-Jun-2017. Last one week high and low of the scrip stood at Rs 622 and Rs 579.1 respectively.
The promoters holding in the company stood at 74.15 % while Institutions and Non-Institutions held 6.61 % and 19.13 % respectively.
The stock is currently trading below its 200 DMA.
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