Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Wockhardt Falls After Report U.S. Regulator Seeks Clarifications

April 15 (Bloomberg) -- Wockhardt Ltd. fell to its lowest level in more than 10 weeks after a newspaper reported the U.S. Food and Drug Administration has sought clarifications regarding its injectables factory in western India.

The shares declined 2.3 percent to 1,712.70 rupees at the close in Mumbai, the lowest level since Jan. 30. The S&P BSE Sensex rose 0.6 percent.

The U.S. FDA contacted Wockhardt about its factory in Aurangabad, in the western state of Maharashtra, after dispatching a team to inspect it last month, the DNA reported on April 13 without saying where it got the information. Wockhardt spokesman Daryl Suchitha didn’t immediately respond to a call made to his office and an e-mail seeking comment.

“There may be concern among investors that this issue could spread to some of the company’s other factories,” said Hitesh Mahida, an analyst at Fortune Equity Brokers (India) Ltd. “And the other question is how long it will take to resolve -- the FDA has become very strict with respect to manufacturing injectables.”

To contact the reporter on this story: Ketaki Gokhale in Mumbai at kgokhale@bloomberg.net

To contact the editor responsible for this story: Jason Gale at j.gale@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.