Expect Wockhardt to cross around Rs 1,200 in next 2-3 years: G Chokkalingam

In a chat with ET Now, G Chokkalingam, Independent Analyst, shares his views on the top pharma names, especially Wockhardt. Excerpt:

ET Now: The pharma pack has been active today. Cipla as well as Ranbaxy have gotten those NDA approvals too. What is your view?

G Chokkalingam: I suggest Wockhardt as it has just corrected already 70 per cent. Except Ranbaxy, no pharma company has perennially got impacted by the FDA warning or alert.

In 12 to 18 months, most of the pharma companies have got back the status. Even if you assume their business from the US is zero, the domestic and other business can justify the current price.

They come out of this alert from the US FDA, then the stock can multiply in the next two to three years. Those, who can take 5 per cent risk, should bet on Wockhardt for next two to three years.

ET Now: Do you have a target on Wockhardt?

G Chokkalingam: No target but in two to three years, it should cross anywhere around Rs 1200. The management will work hard and they will try to get back the status in two to three years.