Wockhardt Q2 Profit Slides 81.6%; Stock Dips 3%

Wockhardt, the Drug firm disclosed a fall of 81.59 per cent in its consolidated net profit at Rs 17.02 crore for the 2^nd quarter ended September because of a dip in sales. Net profit was Rs 92.45 crore in July-September last year. The company's total income on consolidated basis went down 13.41 per cent during the quarter under review to Rs 1,064.69 crore versus Rs 1,229.59 crore in the year-ago period.

Their international business contributed 59 per cent of the total revenues during the second quarter of 2016-17. Wockhardt's total expenses came in at Rs 1,002.54 crore, down 5.93 per cent. In a separate filing, Wockhardt said BSE that its board in a meeting has given the approval of the acquisition of 100 per cent stake in Wockhardt France (Holdings) SAS, an existing step-down subsidiary, from Wockhardt Bio AG (WBG), a subsidiary of the company. By virtue of the above mentioned acquisition, WFH shall turn a direct wholly-owned subsidiary of the company from the erstwhile step-down subsidiary. WBG continues to be a direct subsidiary of the company. Its board has also announced an interim dividend of 200 per cent, which is Rs 10 per share of face value of Rs 5 for 2016-17.

As the trading session commenced on 11^th Nov, Wockhardt share price was trading at Rs.791.90 (down by 3 per cent). The stock opened at Rs. 780 as compared to its previous closing at Rs. 813.85. The stock touched the days high and low at Rs. 800.80 and Rs.767.55.

Wockhardt is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Wockhardt is fundamentally strong and is safe for investment, as per Dynamic analysts. In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Wockhardt share price history.

Wockhardt: No critical observation by UK MHRA

Drug firm Wockhardt today said that the UK health regulator had completed inspection of its Chikalthana plant in Aurangabad, Maharashtra without making any critical observations.

Wockhardt explained in a filing to BSE that the inspection of their manufacturing unit at L-1, Chikalthana, Aurangabad, Maharashtra by UK MHRA had been completed without any critical observations and the functioning of the unit had been approved. It further said that the said audit was according to schedule. In October 2013, the UK regulator had withdrew the GMP certificate to the plant in Chikalthana and had also initiated recall of 5 prescription medicines from there.

In December 2015, Wockhardt had received a GMP - good manufacturing practice certificate from the United Kingdom health regulator for its plant in Chikalthana after an inspection.

Wockhardt share price was trading at Rs.926.50 per scrip on the BSE, up 2.28 per cent, from its previous close. Wockhardt share price opened at Rs. 912.80 and was last traded at Rs. 867 with the drop of over 4%. The stock traded at the intraday high of Rs. 945 and the intraday low of Rs. 855. Wockhardt share price today closed at Rs. 863, lower than its previous close of Rs. 904.60. A total of 48.81 lakhs were traded at the NSE counter today against its average traded volume of 1954477 for twenty days. Wockhardt is among the top 500 shares identified by Dynamic Levels for the quarter. Wockhardt has the PE of 30.71and the monthly return of 10.52%.

Potential investors are all the time on the lookout for stocks that can rake in good profits. Wockhardt share price has posted good performance recently. Dynamic Levels share market researchers have come up with some great stocks which are either proven multibaggers or are on their ways to becoming the same. Wockhardt is one such stock which can be a great investment.

Wockhardt is a pharmaceutical and biotechnology company. It has a strong presence all across the globe. It is a global company with manufacturing plants in India, Ireland, UK, France and US, and subsidiaries in US, Ireland, UK and France. The core competence of Wockhardt lies in producing formulations, biopharmaceuticals, nutrition products, vaccines and APIs - active pharmaceutical ingredients.

It offers good quality and medicines which are affordable to the local people. The workforce of Wockhardt comprises 86,000 employees from 21 different countries all over the world. It has twelve manufacturing units and three research centres. The business of this company ranges from marketing of pharmaceutical and bio-pharmaceutical formulations, Vaccines and Active Pharmaceutical Ingredients.

The company has created technology which successfully manufactures all types of dosage. It has highly skilled technicians operating in 12 manufacturing units which are US FDA, EMEA, USA and Europe. The manufacturing plant in Aurangabad has six manufacturing facilities as well as different types of formulation. The Wockhardt Biotech Park has world class technology and has created its own benchmark in it.

Wockhardt has a multi-disciplinary research and development (R&D) programme with over 607 scientists, including more than 80 doctorates, in the areas of pharmaceutical research, Biotechnology and Genomics research, Novel Drug Delivery Systems and Novel Drug Programme.

For details on Wockhardt, visit Wockhardt share price history page of Dynamic Levels website.

Wockhardt Share Price Nosedived after USFDA’s Report

Wockhardt share price plunged by almost 14 per cent intraday in today’s trading which is the most in six months after its 3^rd drug-manufacturing plant in India was banned by the Food and Drug Administration from importing products into the U.S.

Wockhardt share price is currently trading at Rs 924.80 apiece on NSE down by 8.90 per cent.

The FDA announced in an alert which was posted on Friday that it had banned all drugs as well as drug products produced by the factory which is based in Ankleshwar, India. This plant makes bulk ingredients according to the annula report of Wockhardt. The agency recently inspected the Ankleshwar facility along with three others, the company said in the report, and it had also responded to those findings.

Details of FDA’s observations have not been made public, and Lyndsay Meyer, a spokeswoman for the agency, said via phone that the FDA does not publicly disclose such details. Wockhardt Ltd did not immediately respond to a request for the comment.

The agency also banned two other Wockhardt factories in the year 2013 which includes one that made copies of a popular heart pill, Toprol-XL. The Ankleshwar plant is one of 44 facilities on the list of FDA of banned manufacturing factories in India, most of which are the result of stepped-up enforcement by the agency as the U.S. relies more on producers there and in China for generic drugs and ingredients.

In today’s trading session a total of 27,34,949 shares of the Company has exchanged hand on the NSE counter as against the daily average (20 days) of 16,17,573.