Wockhardt Shares Up On Drug Approval

WockhardtAfter annunciating that it had received USFDA nod for antibiotic Cefprozil tablets, Wockhardt shares climbed up to Rs 395.10.

The shares touched a high of Rs 399 and a low of Rs 391.85 during the day. About 50486 shares were traded on BSE. In the last one quarter, the scrip had an average daily volume of 33,390 shares.

On June 2007, the company’s scrip went down 3.39% to Rs 391.85, from Rs 405.20 a month ago. In the last three months, the scrip progressed 8.5% to Rs 391.85.

The company’s stock price had also hit a 52-week high of Rs 450.05 on 23 March 2007 and a 52-week low of Rs 323.50 on 2 January 2007.

Wockhardt is all set to launch antibioitic Cefprozil tablets in the US. This antibiotic drug is used to alleviate respiratory tract and skin infections.

In its first quarter results on March 2007, the company posted an increase of 961.22% in its net profit, as against Rs 4.90 crore in Q1 March 2006. Sales also climbed up 11.85% to Rs 292.70 crore as compared to Rs 261.70 crore.

Wockhardt’s main activity is to make and trade agro products, pharmaceutical products and bio-pesticides. The group has seven constructing locations and a R&D centre.