Moneycontrol Bureau
Wockhardt shares rallied nearly 5 percent intraday Wednesday after the approval by UK health regulator to Daman-based facility continued.
"European medical regulator Medicines and Healthcare products Regulatory Agency (MHRA) has confirmed that the company's manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of good manufacturing practices," the company said in its filing on Tuesday.
Accordingly, the approval status of the said unit continued, it said.Daman facility contributed USD 25 million in terms of sales and UK business contributed to 25 percent of total sales.Wockhardt told CNBC-TV18 that UK MHRA has approved two facilities at Daman, Shendra and Chikalthana L1.
In September, the UK health regulator also had completed inspection of its Chikalthana plant in Maharashtra without any critical observations on the facility.
Wockhardt’s three manufacturing plants (two in Waluj and one in Chikalthana) in Maharashtra, in July 2016, received establishment inspection report (EIR) from the US Food and Drug Administration, which had been under USFDA import alert since 2013 due to failure in complaint with good manufacturing practices.
The company had said the receipt of EIR did not materially change the status of import alert for these manufacturing units for the US market.
Meanwhile, in previous month, that US Food and Drug Administration had issued a warning letter to C P Pharmaceuticals, United Kingdom, a stepdown subsidiary of the company.
At 11:23 hours IST, the stock was quoting at Rs 716.05, up Rs 25.90, or 3.75 percent amid high volumes on the BSE.
Posted by Sunil Shankar Matkar
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