Nafithromycin is novel broad spectrum antibiotic belonging to the lactone/ketolide class for respiratory tract infections. Nafithromycin is active against entire range of bacterial pathogens associated with community-acquired bacterial pneumonia including macrolide resistance strains which is around 80% in China and several other Asian countries. Wockhardt has completed global clinical Phase I and II studies with Nafithromycin.

Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialization of the Nafithromycin in the select markets. A joint steering committee is formed to oversee development and regulatory activities.

Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales. Wockhardt would transfer the manufacturing technology to Jemincare at mutually agreed time.

Dr. Habil Khorakiwala, founder chairman of Wockhardt Group said, “Wockhardt has been at the forefront in the fight against anti-microbial resistance (AMR) which has been identified as one of the top threats by WHO. Our novel drug discovery program of around 20 years has yielded a rich pipeline of products which are at different stages of commercialization. This arrangement upholds our commitment in the fight against AMR.”

Wockhardt will continue to develop Nafithromycin for other markets including India where Phase III clinical study is on-going.

“We are happy to partner with a company of repute like Jemincare in China, which is also one of the biggest market. We are confident that Jemincare with its excellent standing in the China market will do full justice to the potential of the product.”, noted Dr. Murtaza Khorakiwala, managing director, Wockhardt.

Wockhardt is a research based global pharmaceutical and biotech company.

The company's net loss (from continuing operations) contracted to Rs 48.69 crore in Q1 FY22 compared with net loss of Rs 218.94 crore in Q1 FY21. Revenue from operations (from continuing operations) soared 57.08% to Rs 278.95 crore in Q1 FY22 over Q1 FY21.

The scrip was down 2.44% at Rs 425.95 on the BSE. It zoomed 6.47% to hit the day's high at Rs 436.60 in early trade today.

On the BSE, Wockhardt registered volume of 9.82 lakh shares on the BSE compared with two-week average daily volume of 0.59 lakh shares. The counter clocked volumes of 24,51,139 shares on the NSE.

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Kotak Mahindra Bank Ltd, Zydus Wellness Ltd, Adani Green Energy Ltd, Swan Energy Ltd are among the other stocks to see a surge in volumes on BSE today, 26 August 2021.

Wockhardt Ltd registered volume of 7.38 lakh shares by 10:50 IST on BSE, a 12.17 fold spurt over two-week average daily volume of 60648 shares. The stock slipped 1.41% to Rs.430.45. Volumes stood at 21920 shares in the last session.

Kotak Mahindra Bank Ltd saw volume of 27.73 lakh shares by 10:50 IST on BSE, a 8.48 fold spurt over two-week average daily volume of 3.27 lakh shares. The stock increased 0.09% to Rs.1,699.80. Volumes stood at 12.36 lakh shares in the last session.

Zydus Wellness Ltd witnessed volume of 8844 shares by 10:50 IST on BSE, a 4.32 times surge over two-week average daily volume of 2049 shares. The stock increased 4.38% to Rs.2,322.40. Volumes stood at 1230 shares in the last session.

Adani Green Energy Ltd recorded volume of 67099 shares by 10:50 IST on BSE, a 4.28 times surge over two-week average daily volume of 15684 shares. The stock gained 4.64% to Rs.1,047.40. Volumes stood at 47218 shares in the last session.

Swan Energy Ltd clocked volume of 1.66 lakh shares by 10:50 IST on BSE, a 4.22 times surge over two-week average daily volume of 39216 shares. The stock gained 11.03% to Rs.145.00. Volumes stood at 37472 shares in the last session.

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Wockhardt Bio AG - a subsidiary of Wockhardt and Jiangxi Jemincare Group Company, China (Jemincare), have partnered for Wockhardt's novel patented antibiotic WCK 4873 (INN: Nafithromycin) in People's Republic of China, Hong Kong, Macau and Taiwan for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections.

Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialization of the Nafithromycin in the select markets. A joint steering committee is formed to oversee development and regulatory activities. Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales. Wockhardt would transfer the manufacturing technology to Jemincare at mutually agreed time.

Wockhardt will continue to develop Nafithromycin for other markets including India where Phase III clinical study is on-going.

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Wockhardt has allotted 23,600 equity shares of face value of Rs. 5/- each on 17 August, 2021, pursuant to exercise of stock options under Employee Stock Options Scheme - 2011 of the Company.

In view of the above, the paid-up equity share capital of the Company will increase from Rs. 55,39,05,765/- (11,07,81,153 equity shares of Rs. 5/- each) to Rs. 55,40,23,765/- (11,08,04,753 equity shares of Rs. 5/- each).

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