Wockhardt climbs 4% after MHRA completes plant inspection

NEW DELHI: Shares of Wockhardt climbed 3 per cent to close at Rs 1,586.20 on Monday after the drugmaker said UK health regulator MHRA has completed inspection of its plant at Chikalthana in Maharashtra without issuing any critical observations on the facility.

"The inspection of the company's manufacturing unit at Chikalthana, Aurangabad, by the UK Medicines and Healthcare products Regulatory Agency (MHRA) has been completed and there were no critical observations," Wockhardt said in a filing to the BSE.

The stock jumped 3.65 per cent to hit a high of Rs 1,597.15 on the exchange. Still, the stock is trading 20 per cent lower from its all-time high of Rs 2,000 it hit on August 4.

Earlier this year, the US Food and Drug Administration ( USFDA) had not found any issues with respect to data security and control measures at the Mumbai-based drugmaker's Chikalthana plant, but suggested continuous voluntary compliance for "desired quality culture".

In November 2013, USFDA had imposed restrictions on import of medicines produced at the company's Chikalthana plant due to non-compliance of good manufacturing practice.