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Wockhardt spurts after collaboration with UKs Serum Life Sciences

Wockhardt surged 9.51% to Rs 320.05 after the company and Serum Life Sciences UK announced collaboration for manufacturing multiple vaccines in the United Kingdom.

March 21, 2022 10:06 IST | capital market
Serum Life Sciences UK is a subsidiary of the Serum Institute of India, one of the worlds largest vaccine manufacturers to deliver a global vaccine programme.

The collaboration between a subsidiary of Wockhardt and Serum Life Sciences UK will help create considerable number of employment opportunities along with creation of new sterile fill and finish facility in Wrexham, North Wales (new facility).

A profit sharing arrangement has been made between the two parties for this New Facility that will deliver an additional 150 million vaccine doses of multiple vaccines.

Wockhardt UK has manufactured a COVID-19 vaccine in collaboration with UK Government and AstraZeneca. Its collaboration with Serum Life Sciences is an addition to the earlier arrangement.

Wockhardt is a research based global pharmaceutical and biotech company, headquartered in India.

On a consolidated basis, Wockhardt reported net loss of Rs 6.78 crore in Q3 December 2021 as against net profit of Rs 15.24 crore in Q3 December 2020. Net sales rose 11.76% to Rs 853.89 crore in Q3 December 2021 over Q3 December 2020.

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