Wockhardt surges 12% as HP drug controller revokes drug suspension

MUMBAI: Shares of Wockhardt surged nearly 12 per cent intraday after the company announced that the State Drug Controller of Himachal Pradesh has revoked the suspension of manufacture and sale of Dicyclomine Hydrochloride.

Last Wednesday, the state regulator had suspended the manufacture, sale or distribution of fixed dose combination (FDC) Dicyclomine Hydrochloride IP 10mg, Tramadol Hydrochloride IP 50mg & Acetamenophen IP 325mg.

The company had then filed an appeal before the State Government under the provisions of applicable law.

The product contributed less than 3 per cent of the company’s consolidated sales during the Financial Year 2013-14.

At 12:50 p.m.; the stock was at Rs 703.90, up 8.96 per cent, on the BSE. It touched a high of Rs 723 and a low of Rs 646 in trade today.