Wockhardt hit by FDA alert on Chikalthana plant

Nov 27, 2013, 10.57 AM IST

An `import alert' results in the detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, the FDA website says.

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Wockhardt hit by FDA alert on Chikalthana plant

An `import alert' results in the detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, the FDA website says.

Like this story, share it with millions of investors on M3

Wockhardt hit by FDA alert on Chikalthana plant

An `import alert' results in the detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, the FDA website says.

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The US Food and Drug Administration has imposed an "import alert", effectively a ban, on the Chikalthana plant operated by Indian generic drugmaker Wockhardt Ltd , the regulator said in a notice on its website, sending the company's shares down as much as 13.5 percent.

An "import alert" results in the detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, according to the FDA website.

A spokesman for Wockhardt was not available for comment.

The latest FDA action against Wockhardt comes amid a slew of regulatory rebukes this year. Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.

Indian firms, which make nearly 40 percent of generic and over-the-counter drugs for the US market, are facing more regulatory woes, including a record fine for Ranbaxy Laboratories , amid increased scrutiny by overseas regulators.

Wockhardt stock price

On November 27, 2013, at 11:10 hrs Wockhardt was quoting at Rs 429.55, down Rs 42.45, or 8.99 percent. The 52-week high of the share was Rs 2166.05 and the 52-week low was Rs 344.15.

The company's trailing 12-month (TTM) EPS was at Rs per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 0. The latest book value of the company is Rs per share. At current value, the price-to-book value of the company is 0.00.

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