Monday , September 27 2021

Wockhardt rises as its arm enters into partnership with Jemincare

Wockhard is currently trading at Rs. 445.00, up by 8.40 points or 1.92% from its previous closing of Rs. 436.60 on the BSE.

The scrip opened at Rs. 439.60 and has touched a high and low of Rs. 464.85 and Rs. 435.15 respectively. So far 489959 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 804.50 on 26-May-2021 and a 52 week low of Rs. 266.00 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 472.70 and Rs. 420.30 respectively. The current market cap of the company is Rs. 4996.19 crore.

The promoters holding in the company stood at 69.68%, while Institutions and Non-Institutions held 2.82% and 27.49% respectively.

Wockhardt’s subsidiary– Wockhardt Bio AG has entered into partnership with Jiangxi Jemincare Group Company, China (Jemincare) for Wockhardt’s novel patented antibiotic WCK 4873 (INN: Nafithromycin) in People’s Republic of China, Hong Kong, Macau and Taiwan for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections.

Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialization of the Nafithromycin in the select markets. A joint steering committee is formed to oversee development and regulatory activities. Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales. Wockhardt would transfer the manufacturing technology to Jemincare at mutually agreed time.

Wockhardt is a research based global pharmaceutical and Biotech Company headquartered in Mumbai, India.

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