Wockhardt stocks accelerate 9.5% as CDSCO approves pneumonia curing drug

The stocks of Wockhardt Limited rallied by 9.44% to a high of ₹1,582.95 per share on Friday as Central Drugs Standard Control Organization (CDSCO), the Indian drug regulator, approved as a new treatment for the Community-Acquired Bacterial Pneumonia (CABP) in Adults.

Miqnaf (nafithromycin), the new treatment drug for Community-Acquired Bacterial Pneumonia (CABP) in Adults, is an oral antibiotic. It is an ‘ultra-short’ course where the drug needs to be taken once-a-day for three days for CABP including those caused by multi-drug resistant (MDR) pathogens.

In an exchange filing, the pharma company said, "The Indian drug regulator, Central Drugs Standard Control Organization (CDSCO) has approved Miqnaf (nafithromycin) as a new treatment for the Community-Acquired Bacterial Pneumonia (CABP) in Adults."

The approval came after a favourable recommendation for the manufacture and marketing of Nafithromycin from the Subject Expert Committee (SEC) of CDSCO.

A key feature of the pneumonia drug, Miqnaf, is its coverage of an entire range of community respiratory pathogens including pneumococci resistant to azithromycin and amoxicillin/clavulanate, making it a promising monotherapy option for CAPB.

Wockhardt is a global pharmaceutical and biotech company focused on research, particularly in the development of anti-bacterial drugs to combat untreatable superbugs. Its New Drug Discovery program has earned QIDP status from the US FDA for six of its anti-bacterial discovery projects, targeting both gram-negative and gram-positive superbugs. With research and manufacturing facilities in India, the USA, UK, and Ireland, Wockhardt has a strong international presence, generating 79% of its global revenues from markets in the USA, Europe, and India. The company boasts a comprehensive drug discovery and clinical organization.

At close on Friday, the shares of Wockhardt Limited were trading at ₹1,520 per share, 5.08% higher than the previous close of ₹1,446.45 per share on the National Stock Exchange (NSE).