Wockhardt shares gain nearly 3% on bourses

Written by Press Trust of India | Mumbai | Updated: Sep 1 2014, 22:25pm hrs
Shares of drug maker Wockhardt today rose by nearly 3 per cent as two of its anti-infective drugs have received Qualified Infectious Disease Product (QIDP) status from the US health regulator.

The drug maker's scrip ended 2.78 per cent higher at Rs 709.70 on the BSE. In intra-day, it jumped 6.25 per cent to Rs 733.70.

At the NSE, it was up 2.76 per cent to Rs 710 at closing.

Two drugs -- WCK 771 and WCK 2349 -- have received QIDP status, which allows fast-track review of the drug application by the US Food and Drug Administration (USFDA), Wockhardt had said in a statement yesterday.

This is the first instance of an Indian pharmaceutical company receiving QIDP status.

Commenting on the development, Wockhardt Founder Chairman and Group CEO Dr Habil Khorakiwala had said, "This is indeed a proud moment for us. Not only does the status allow for fast- track review of our drug application, it also grants a five- year extension to the drug patents in the USA, which is a major support for the commercial aspect of the drug."

QIDP status is granted to drugs which act against pathogens which have a high degree of unmet need in their treatment and are identified by the Centre for Disease Control, USA, a top US government health and safety body.