Wockhardt shares up 3% as UK MHRA makes no critical observations

MUMBAI: Shares of drug firm Wockhardt today surged 3 per cent after the company said the UK health regulator MHRA has completed inspection of its plant at Chikalthana in Maharashtra without issuing any critical observations on the facility.

The stock ended the day at Rs 1,586.20, up 2.92 per cent on BSE. During the day, it gained 4.11 per cent to Rs 1,604.50.

At NSE, shares of the company went up 3 per cent to Rs 1,586.40.

The company's market valuation rose by Rs 541.35 crore to Rs 17,525.35 crore.

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 Ltd said in a filing to BSE yesterday.

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