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Shares of drug firm Wockhardt rose by nearly 3 per cent today as the company received approval from the US health regulator to market its Oxycodone HCl liquid, used for treating chronic pain, in the American market.
The stock settled 2.77 per cent higher at Rs 1,436.35 on the BSE. In intra-day, it gained 3.74 per cent to Rs 1,450.
At the NSE, shares of Wockhardt went up by 2.6 per cent to Rs 1,435.80.
The company’s market capitalisation moved up by Rs 425.17 crore to Rs 15,809.17 crore.
The company has received final approval from the US Food and Drug Administration (USFDA) to market 5mg/5ml of Oxycodone HCl liquid, Wockhardt Ltd said in a filing to BSE today.
Wockhardt is launching the product soon and will be amongst the few generic versions of this product in the market, it added.
“We have filed several abbreviated new drug applications (ANDAs) over the last couple of years from our Morton Grove Pharmaceuticals facility in Illinois, especially for liquid products. This is only the first of few others we expect soon,” Wockhardt Chairman Group CEO Habil Khorakiwala said.
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