The stock of Wockhardt will come under pressure this week as the UK healthcare authority decided to withdraw the good manufacturing practice (GMP) certificate. The company informed the exchanges that the Medicines and Healthcare Products Regulatory Agency, United Kingdom, has decided to withdraw the certificate to the company’s manufacturing facility situated at Aurangabad and will be issuing a restricted certificate to the site along with a statement of non-compliance for the site. The impact on existing business will only be known once the company receives further communication from the regulatory agency, it said and added that the facility contributes approximately £12 million from the UK and EU markets to the consolidated annual revenues of the company. However, the regulatory agency allowed the company to manufacture and supply certain medicinal products critical to public health from the facility.
A bad certificate for Wockhardt
Published on
October 13, 2013 16:24