Wockhardt sets-up facility in Middle East, surges by 3.5 per cent

Wockhardt Limited has set-up its first facility in the Middle East for manufacturing of NCEs (New Chemical Entities). It will cater to the global markets through its Dubai arm of its subsidiary Wockhardt Bio AG.

The facility is spread over 10,000 sq. meters of space, self-sufficient for handling Warehousing, Manufacturing Operations, Product Testing and Product Stability. The facility is equipped with best-in-class and fully-automated manufacturing equipment and clean utility systems.

It has inaugurated a state-of-the-art manufacturing facility for production and packaging of sterile dry powder injection in Dubai with an aim to grow further and establish its presence in pharmaceutical manufacturing in the international markets. It will start the commercial production at the said facility once it gets approval from USFDA for the new drug.

The Founder Chairman of the company informed that the company has 5 breakthroughs NCEs that have been Qualified Infectious Disease Product (QIDP) status by USFDA. With this new facility in the Middle East, it focuses on developing new NCEs.

The company currently has 5 novel antibiotic drugs in advanced stages of global clinical development which will be effective against the superbugs threats identified by the Center of Disease Control, USA. Considering the strategic importance of these antibiotics, the US FDA has granted Qualified Infectious Disease Program (QIDP) status to the 5 novel antibiotic drugs. Superbugs are the infections caused by antimicrobial resistant strains of bacteria.

On Monday, the stock of Wockhardt Limited opened at Rs. 580 per share. It jumped by 3.5 per cent and made an intra-day high of Rs. 598.75 and a low of Rs. 579.85 per share.