Moneycontrol Bureau
Wockhardt shares rallied more than 8 percent intraday Friday on getting clean chit for its Ankaleshwar unit from the German health regulator.
"Competent authority, Berlin, Germany has since issued European Union Good Manufacturing Practice Certificate confirming that company's manufacturing facility at 138, GIDC Estate, Ankaleshwar, Gujarat, complies with the principles and guidelines of Good Manufacturing Practices," the Mumbai-based healthcare company said in its filing.
The good manufacturing practice certificate issued for the plant is valid for three years; hence the company will continue to supply of APIs across European Union that contributed about 37 percent of company's revenue in FY16.
Three days back, the same active pharmaceutical ingredient plant had received a warning letter from the US Food and Drug Administration.
The USFDA had imposed import alert on the company's Ankleshwar plant in August 2016, citing concerns like data integrity and microbial contamination of sterile unit.
Chairman Habil Khorakiwala told CNBC-TV18 that the import alert and subsequent warning letter to Ankleshwar plant by USFDA had no impact on supplies to Europe and rest of the world.
So far 4-5 facilities have clearances to supply formulations and APIs to Europe, he said.
At 10:20 hours IST, the stock was quoting at Rs 719.50, up Rs 46.20, or 6.86 percent amid high volumes on the BSE.Posted by Sunil Shankar Matkar
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
