Wockhardt to raise insulin prices; stock down

Thedrug price regulator has allowed local pharma companies Wockhardt and Biocon toincrease prices of their insulin brands due to rising input costs. These twocompanies are the only local drugmakers who make and sell insulin in India,whose products are about a third cheaper than imported brands or those made fromraw materials sourced from abroad.

At 2:20 p.m., Wockhardt Ltd.shares were down 1.74 per cent and was trading at Rs 314. 55. The stock toucheda high of Rs 324.75 and a low of Rs 313.

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Wockhardt, Biocon allowed to raise Insulin prices by 18%