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Wockhardt shares tumble 9% amid profit booking after sharp rally on Zaynich approval
The recent rally in the stock followed the USFDA’s approval for Zaynich (cefepime and zidebactam), an intravenous antibiotic for treating adults with complicated urinary tract infections (cUTI)
TL;DRAI
Wockhardt gained FDA approval for Zaynich (novel antibiotic for UTIs); stock surged 36.77% then fell 9% on profit-taking. Independent global distribution by Wockhardt marks India's first self-developed breakthrough drug without pharma partnerships.
298 words~1 min read
