Wockhardt gets Indian regulator's nod for 2 new antibiotics; stock up 6%

Indian drug regulator, DCGI has approved Wockhardt’s two new antibiotics, EMROK (IV) and EMROK 0 (Oral), for acute bacterial skin and skin structure Infections including diabetic foot infections and concurrent bacteraemia based on the Phase 3 study involving 500 patients in 40 centres across India. The new drug will target superbug like Methicillin Resistant Staphylococcus Aureus (MRSA), which is a leading cause of rising antimicrobial resistance (AMR).

                          

The size of Indian Antibiotic market is ~16,000cr, growing at 7% and is one of the largest therapeutic segment, with a 12% market share of the Indian Pharmaceutical Market.
"By virtue of its broad spectrum activity against widely prevalent pathogens including MRSA, superior safety over the currently available anti-MRSA agents and its unique properties, I believe EMROK/EMROK-O has a strong potential to effectively address the unmet medical need of the clinicians in the country thereby helping to reduce the morbidity and mortality”- said Dr. Habil Khorakiwala, Founder Chairman, Wockhardt Group.
Stock view:
Wockhardt Ltd is currently trading at Rs273.50, up by Rs14.45 or 5.58% from its previous closing of Rs259.05 on the BSE.
The scrip opened at Rs265 and has touched a high and low of Rs295.50 and Rs265 respectively.

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