Wockhardt touched 6 mths high

2009 October 1
tags: ,
by Preeti

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Wockhardt touched 6 months high in today’s trade. The company got US FDA nod for prostate drug Tamsulosin (Flomax), which had sales of $ 1.2 billion in 2007. Patent on this product will expire on April 27, 2010. Wockhardt will launch the product immediately afterwards.
Ranbaxy also has approval and has 2 months exclusivity. With supplies from 2 plants still banned by USFDA, it is not sure if Ranbaxy will be able to launch the product.
Wockhardt touched a 52 week high of Rs 197.90 in today’s trade. The stock touched an intra day high of Rs 197.90 and an intra day low of Rs 183 and at 15:00 PM, the share was quoting at Rs 194.70, up Rs 13.80, or 7.63%, trading with volumes of 307,583 shares, compared to its 5-day average of 99,528 shares, an increase of 209.04%. Yesterday the share closed up 1.12% or Rs 2.00 at Rs 180.90.

Wockhardt touched 6 months high in today’s trade. The company got US FDA nod for prostate drug Tamsulosin (Flomax), which had sales of $ 1.2 billion in 2007. Patent on this product will expire on April 27, 2010. Wockhardt will launch the product immediately afterwards.

Ranbaxy also has approval and has 2 months exclusivity. With supplies from 2 plants still banned by USFDA, it is not sure if Ranbaxy will be able to launch the product.

Wockhardt touched a 52 week high of Rs 197.90 in today’s trade. The stock touched an intra day high of Rs 197.90 and an intra day low of Rs 183 and at 15:00 PM, the share was quoting at Rs 194.70, up Rs 13.80, or 7.63%, trading with volumes of 307,583 shares, compared to its 5-day average of 99,528 shares, an increase of 209.04%. Yesterday the share closed up 1.12% or Rs 2.00 at Rs 180.90.

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