Wockhardt stock falls 6.52% on import alerts

The Wockhardt stock closed 6.52 per cent lower to Rs 1,243.35 after the announcement made by the company that it has decided to recall its remaining batches of drugs from the US market after the US FDA found safety issues with the drugs.

The company in a note said during the last US FDA cGMP inspection of the facilities at L1- Chikalthana and Waluj in Aurangabad, Maharashtra, some observations were reported pertaining to batches of some products manufactured prior to the US FDA import alerts.

Whereas, it continues to supply some of the products in the US market manufactured in the same facilities, several batches of other products, manufactured prior to the import alerts may still be in the US market.

Additionally, the MHRA, UK has restored the EU GMP certification of the company's potent product facility at Kadaiya, Daman.

On Monday, the share price of Wockhardt tanked 18.3 per cent to 1,330.05.