Wockhardt shares at upper circuit after investigational drug cures Meningitis cases

Wockhart's shares at upper circuit after investigational drug cures Meningitis cases

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Shares of Wockhardt are locked at upper circuit after the pharma company said on September 19 that one of its investigational drug - Zaynich - has successfully treated critically ill patients of drug-resistant Meningitis.

One of the cases involved a 64-year-old patient with Type 2 diabetes and hypertension, who was administered Zidebactam/Cefepime under compassionate grounds for three weeks. Wockhardt said within a short period, the patient’s condition improved, and he was taken off the ventilator. The drug was well-tolerated throughout the treatment period, Wockhardt added.

"In the past one year, the drug successfully treated over 35 critically ill patients in India and US who were suffering from extremely drug-resistant infections," The pharma major said.

Meningitis is a life-threatening inflammation of tissues surrounding the brain and spinal cord, and a significant treatment challenge.

The drug is currently undergoing multi-national Phase III clinical trials, which should get over in 2-3 months. Habil Khorakiwala, Chairman of Wockhardt told CNBC-TV18 that once the trials are complete, the company will seek necessary regulatory approvals and hope to be in the market 'some time in 2026'.

Khorakiwala said the opportunity of this molecule is 'extremely large', given that in US alone, there are about 7 lakh patients, while in India there are 11 lakh patients. The cost of a similar treatment in US is $8,000-10,000 per patients, said Khorakiwala.

"To get the optimum value in the licencing, it is important that we complete the Phase III trials. When we will apply to USFDA, at that time we would like to explore the possibilites," Khorakiwala told CNBC-TV18 when asked about exploratory talks for out-licencing.

Khorakiwala also mentioned that a number of pharma companies had tapped Wockhardt regarding a tie up for the drug in the past, but talks did not realise over valuations. "Now, the molecule has turned out as per our perception. Once we complete the trials, then we will approach them through merchant bankers," he added.

Wockhardt said its clinical trials in India too will be wrapping up in 2-3 months, and post that, the company will apply to regulatory body DCGI.