Wockhardt hits 52-week high on USFDA nod for Ziprasidone

Shares of pharmaceutical and healthcare company Wockhardt has touched a 52-week high of Rs 1,352.80 on Saturday after the DNA reported that the company has received approval from the US Food and Drug Administration (US FDA) for Schizophrenia Medication Ziprasidone Hyrochloride.

In previous month, it had received tentative approval for marketing a generic version of 20 mg, 40 mg, 60 mg and 80 mg capsules containing Ziprasidone hydrochloride, which is used in the treatment of bipolar disorders and schizophrenia. Ziprasidone capsule is the generic name for the brand Geodon, marketed in the US by Pfizer. According to the IMS Health, the total market for this product in the US is about USD 1.3 billion.
 
At 12:24 hours IST, the share was trading at Rs 1,350, up 0.74% after hitting a high of Rs 1,352.80 and low of Rs 1,300 in early trade.
 
On Friday, the share jumped 4.93% to close at Rs 1,340.10. Market capitalisation of the company currently stands at Rs 14,773.85 crore.