Wockhardt shares extend fall, plunge nearly 11% intraday

Wockhardt shares on Monday plunged 11% intraday after the US Food and Drug Administration (USFDA) made nine 'observations' highlighting violations of its norms by the drugmaker's new facility at Shendra in Aurangabad, and due to a recall of 62,555 bottles of its antibiotic tablets in the US market.

The stock plummeted by 11% to Rs 1,146.40 on the BSE. Similarly, the stock tumbled by 10.82% to Rs 1,148.80 on the NSE. 

ALSO READ: USFDA makes nine observations over Wockhardt's Shendra plant; share closes down 15%

Wockhardt shares had slumped 15% on Friday too. The observations were made by the USFDA in Form 483, which is issued to firm 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 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).  

At 1347 hours, the shares of the Wockhardt were trading down 4.14% or Rs 53.35 at Rs 1,235.05 per scrip intraday on the BSE.