Introduction:
Indian drug regulator has approved a new-generation oral antibiotic for treating Community-Acquired Bacterial Pneumonia (CABP) in adults. The drug offers a three-day treatment option, targeting multi-drug resistant pathogens and providing a breakthrough solution for respiratory infections.
Also Read: Stocks to Consider for This New Year 2025
Share price movement of Wockhardt:
On January 3, 2025, Wockhardt Ltd opened at ₹1,510.05, up 4.46% from its previous close of ₹1,445.75. The stock reached a high of ₹1,580.00 (9.26%) and a low of ₹1,510.05. By 11:17 AM, it traded at ₹1,539.55, a 6.49% increase, with a market cap of ₹25,012.41 crore.
Wockhardt’s Miqnaf Approved for CABP Treatment:
The Indian drug regulator, CDSCO, has approved Wockhardt’s new-generation oral antibiotic Miqnaf (nafithromycin) for the treatment of Community-Acquired Bacterial Pneumonia (CABP) in adults. The drug offers a 3-day, once-daily treatment, even for infections caused by multi-drug resistant pathogens.
Miqnaf represents a breakthrough in treating CABP, a condition affecting millions globally, particularly in India, which bears 23% of the global disease burden. The antibiotic covers a range of respiratory pathogens, including those resistant to azithromycin and amoxicillin/clavulanate, offering a viable alternative to traditional treatments.
Wockhardt’s new antibiotic promises to reduce hospitalizations and associated risks by providing an effective oral monotherapy for CABP. The company plans to launch Miqnaf in India in the coming months, building on its extensive clinical studies and global research efforts.
Recent news on Wockhardt:
As of December 16, 2024, Wockhardt’s investigational antibiotic Zaynich successfully treated chronic bile duct infection in the U.S., enabling liver transplant. The drug eradicated resistant pathogens, benefiting 45 patients, boosting the stock by 10% to a nine-year high.
Ace investor holding in Wockhardt:
The estate of the late Mr. Rakesh Jhunjhunwala
The estate of the late Mr. Rakesh Jhunjhunwala holds a 1.75% stake in Wockhardt Ltd, owning 2,837,005 shares. This significant holding reflects his enduring influence in the Indian stock market and investment landscape.
Stock performance of Wockhardt for Period of 1 week, 6 months and 1 year:
Wockhardt Ltd. has seen a 2.14% decline over the past week but boasts impressive returns of 59.2% over six months and 193% over the past year, highlighting strong growth and resilience in its market performance.
Also Read: RK Damani stock hits 15% upper circuit after it announces strong Q3 business updates
Shareholding pattern of Wockhardt:
| All values in % | Nov 2024 | Sep 2024 | Jun 2024 |
| Promoter | 49.10% | 52.00% | 52.00% |
| FII | 6.60% | 6.70% | 5.90% |
| DII | 10% | 5.10% | 4.50% |
| Public | 34.40% | 36.20% | 37.60% |
About Wockhardt:
Wockhardt Ltd (NSE: WOCKPHARMA) is a global pharmaceutical and biotech company focused on antibacterial drug discovery. With a presence in multiple countries, it addresses the growing threat of superbugs, providing innovative treatments for global healthcare needs.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
