Moneycontrol Bureau
Shares of Wockhardt jumped over 5 percent intraday on Tuesday as reports indicate that US regulator may visit its unit in Shendra for an inspection this month.
“If the company manages to get a go-ahead from the regulator for this plant in Aurangabad district of Maharashtra, it might result in resumption of supplies of several of their products, barred from the US last year,” the report said.
The pharma company ran into trouble with US FDA on violation of various norms in its manufacturing units. Its plants in Waluj, Chikalthana and Daman are under scanner.
Most Indian firms, which make nearly 40 percent of generic and over-the-counter drugs for the US market, are facing more regulatory woes.
At 09:47 hrs, the stock was quoting at Rs 447.90, up Rs 16.85, or 3.91 percent on the BSE.
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