Wockhardt Ltd.’s stock reached a record high on Monday following the company’s announcement that a patient in the US was able to successfully undergo a liver transplant and resume chemotherapy because to its exclusive antibiotic, ZaynichTM. According to an exchange filing, the patient, who was receiving chemotherapy and stent implantation for bile duct cancer earlier this year, experienced serious side effects, such as liver abscesses, cholangitis, and sepsis.
Wockhardt Pharma share price
On Monday, December 16, shares of Wockhardt Pharma were locked in at Rs 1,536.40, the 10% upper circuit, a level not seen in the stock in nine years. So far this year, the pharmaceutical stock has increased by more than 225%. It yielded 594.5% over the previous two years and produced a return of 268.7% over the previous year.
Here’s why the price of Wockhardt Pharma’s shares rose
After the successful treatment of a chronic bile duct infection with its innovative antibiotic ZaynichTM, which allowed for a liver transplant and the patient’s hospital discharge, Wockhardt Pharma’s stock is rising. Houston Methodist Hospital in Texas, USA, was the site of the patient’s care. The team used FDA-approved ZaynichTM (WCK 5222) for compassionate use after the patient failed more than six weeks of treatment with sophisticated US antibiotics such cefiderocol and eravacycline, according to the treating physician.
About the Company – Wockhardt
Wockhardt Ltd. is a multinational pharmaceutical and biotechnology company that offers high-quality, reasonably priced medications to promote global health. The corporation is India’s top research-based international healthcare organization with a strong presence in biotechnology, pharmaceuticals, and a network of cutting-edge super specialty hospitals.
The corporation operates twelve manufacturing facilities in addition to five locations for research and development. Mumbai, India, is home to the company’s headquarters. They operate fully in the United States, the United Kingdom, Ireland, and France. Additionally, they have a marketing presence in the African nations of Kenya, Ghana, Nigeria, and Tanzania as well as in the developing markets of Brazil, Vietnam, Myanmar, Sri Lanka, and Russia.
