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Wockhardt shares today plunged 11 per cent after the USFDA made nine ‘observations’ highlighting violations of its norms by the drug maker’s new facility at Shendra in Aurangabad, and recall of 62,555 bottles of its antibiotic tablets in the US market.
The stock plummeted by 11 per cent to Rs 1,146.40 on the BSE. It tumbled 11 per cent to Rs 1,144.95 on the NSE.
Wockhardt shares had slumped 15 per cent on Friday also.
The observations were made by the USFDA in Form 483, which was issued to the company management at the conclusion of an inspection by its investigator, highlighting any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.
Besides, it had emerged on Thursday that 62,555 bottles of anti-biotic Azithromycin tablets manufactured by Wockhardt are being recalled by PD-Rx Pharmaceuticals Inc in the US market.
The tablets are in the strengths of 250 mg (45,022 bottles) and 500 mg (17,533 bottles).
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