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Wockhardt extends gains on US nod for a generic drug

Capital Market / 13:02 , Mar 05, 2010

Wockhardt rose 2.20% to Rs 148.50 at 12:59 IST on BSE, extending gains for the fourth straight day, after the company got final approval from US Food & Drug Administration for Levetiracetam oral solution.

The news hit the market during trading hours on Thursday, 4 March 2010, when the stock had risen 0.73% to Rs 145.30.

Meanwhile, the BSE Sensex was up 16.68 points, or 0.10% to 16,988.38.

On BSE, 42,220 shares were traded in the counter as against an average daily volume of 59,608 shares in the past one quarter.

The stock hit a high of Rs 150.75 and a low of Rs 145.40 so far during the day.

The stock has risen 4.91% in four trading sessions from a recent low of Rs 141.55 on 26 February 2010.

The company's equity capital is Rs 54.72. Face value per share is Rs 5.

Levetiracetam oral solution is the generic version of UCB's Keppra oral solution. The drug is used for treating partial onset seizures in individuals with epilepsy.

Wockhardt reported lower net loss of Rs 159.96 crore in Q4 December 2009 compared to net loss of Rs 386.32 crore in Q4 December 2008. Net sales rose 8.3% to Rs 395.44 crore in Q4 December 2009 over Q4 December 2008.

Wockhardt specializes in the production of pharmaceuticals in both generic and prescription forms. The company has developed brands in a variety of segments, including anti-infective, pain & inflammation, cough, psychiatry, medical nutrition, vaccines, active pharmaceutical ingredients and biotechnology.

 



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