Wockhardt in good health today

Wockhardt is in good health today. The stock opened up with a gap of Rs.84 at Rs.1962 and went on to hit a 52-week high at Rs.1980.

The company which has been harrowed by the US FDA, for a change had some good news to offer. It announced yesterday after market closure that the US FDA had inspected its Chikalthana site and did not find any issues. This is probably happened for the first time that we are seeing no observations come from the FDA and this has been greeted with a lot of cheer by the market.

The company has issued a Press Release stating that this was a follow-up inspection of this site in Aurangabad, as an outcome of completion of good manufacturing practices (GMP) remediation submitted by Wockhardt in October 2014. The audit focus was to assess the company's GMP remediation and efforts made to bring about active change and build a robust quality management, Wockhardt said. The efforts for data security control have been thoroughly verified during the inspection and have been appreciated as it is qualified and executed since September 2013. T

here were no findings with respect to data security and control measures in laboratory and manufacturing, the company said. The observations on Form FDA 483 are on products manufactured prior to execution and implementation of GMP remediation programme.