Wockhardt soars 19% on completion of phase-3 study of pneumonia drug

The findings of Phase 3 study are in line with Phase 2 study conducted in the US and Europe.

The Wockhardt stock surged 19 percent to hit a 52-week high of Rs 399 on December 11 morning after the pharma company announced successful completion of the pivotal phase 3 study of its pneumonia drug.

Wockhardt’s macrolide antibiotic Nafithromycin was comparatively evaluated in a multicentre double- blind Phase 3 pneumonia study employing the last-line respiratory antibiotic Moxifloxacin.

The results showed that an ultrashort course of three-day treatment with Nafithromycin was as effective as seven-day therapy with moxifloxcain, the company said.

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The findings of Phase 3 study are in line with Phase 2 study conducted in the US and Europe, the company said.

At 12.37 pm, Wockhardt was trading at  Rs 388.15 on the National Stock Exchange,  up 15.57 percent from the previous close.

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