Wockhardt gains on Rhinitis drug launch

NEW DELHI: Shares of Wockhardt gained over 4% after the pharmaceutical major received final approval from the US FDA for marketing nasal spray of Fluticasone, which is used in treatment of allergic rhinitis.

The company in a filing with the exchanges said, “Wockhardt will be manufacturing the nasal spray at its facility in Morton Grove, Illinois, USA. The technology for this nasal spray was developed in-house.”

At 12:20 p.m., shares of the company were trading 3% higher at Rs 304.95. The stock has hit a high of Rs 3093.40 and a low of Rs 296 so far in trade today.