Pharma stock engaged in manufacturing injectables, finished dosage formulations, orals, biopharmaceuticals, and topicals jumped up to 9 percent in the day’s trade following the press release on India Drug Regulator approves Oral Antibiotic Miqnaf for Community-acquired Bacteria Pneumonia
Price Action
With a market capitalization of Rs. 25,035.97 Crores, the shares of Wockhardt Limited touched a day’s high of Rs. 1,543 per equity share, up 9.2 percent. The stock reiterated from the day’s high and was trading at Rs. 1,543 which is 6.73 percent higher from its previous day’s close price of Rs. 1,445.75. The stock delivered a return of 211.72 percent and outperformed the Nifty Index.
What Happened
The company announced the approval of Miqnaf as a new treatment for Community-Acquired Bacterial Pneumonia (CABP) in Adults from the Indian Drug Regulator, Central Drugs Standard Control Organisation (CDSCO). Miqnaf is an ultra-short course, once a day, 3-day treatment for CABP including caused by the multi-drug resistant (MDR) pathogens. The approval can help the company to manufacture and marketing. CABP affects people in millions which is around 23 percent of the global disease borned by India.
About the Company
Wockhardt is a manufacturing finished dosage formulations and research-based Pharmaceutical and Biotech company. They are headquartered in Mumbai. They have employed around 2,600 people and 27 nationalities,
The company has a presence in the UK, USA, Switzerland, Ireland, Mexico, France, Russia, and other countries. They have manufacturing and research facilities in the UK and India and in Ireland, they have a manufacturing facility. The majority of their revenue comes from International Business accounting for around 78%.
Wockhardt’s product portfolio includes various therapeutic areas including dental care, orthopedics, rheumatology, dermatology, pediatrics, gynecology, pain management, cardiology, neurology, nephrology, and diabetes.
Financials & Ratios
Its Revenue from operations improved by 7.43 percent year on year from Rs. 753 Crores in Q2FY24 to Rs. 809 Crores in Q2FY25, accompanied by a loss of Rs. 73 Crores to a loss of Rs. 16 Crores.
In terms of Return ratios, the return on equity (RoE) stood at -12.34 percent and a return on capital employed (RoCE) of -0.86 percent in FY24. They have a debt-to-equity ratio of 0.68 as of FY24.
Shareholding Pattern
As of November 2024, the promoters were holding a share of 49.09 percent, Foreign Institutional Investors (FII) were holding around 6.62 percent, Domestic Institutional Investors (DII) were holding around 9.88 percent, Government was holding around 0.02 percent, and remaining 34.40 percent held by Public Investors.
Written by Santhosh S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses
