Wockhardt Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

Net Loss of Wockhardt reported to Rs 22.00 crore in the quarter ended September 2024 as against net loss of Rs 77.00 crore during the previous quarter ended September 2023. Sales rose 7.44% to Rs 809.00 crore in the quarter ended September 2024 as against Rs 753.00 crore during the previous quarter ended September 2023.

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Wockhardt will hold a meeting of the Board of Directors of the Company on 13 November 2024

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The floor price indicates a steep discount of 8.5% over the stock's closing price on Wednesday.

The media reported that the QIP is aimed to raise up to Rs 1,000 crore, with an additional greenshoe option of Rs 200 crore. A QIP is a method by which a company raises funds by allotting shares to eligible institutional buyers.

According to reports, the QIP is expected to dilute Wockhardt's equity by around 5.57% of its post-issue capital. Based on the September shareholding pattern, promoters of Wockhardt held a 51.99% stake in the company.

Mumbai-based Wockhardt is a research based global pharmaceutical and biotech company. Employing around ~2600 people and 27 nationalities, it has a presence in USA, UK, Ireland, Switzerland, France, Mexico, Russia and many other countries. It has manufacturing and research facilities in India & UK and a manufacturing facility in Ireland. Around 78% of its global revenues is coming from international businesses.

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Wockhardt announced the filing of its fast-acting insulin analog, Aspart injection (ASPARAPID™), with the Drugs Controller General of India (DCGI). This significant milestone reflects Wockhardt's ongoing commitment to address the growing diabetes epidemic both in India and globally.

Wockhardt's Aspart insulin injection (ASPARAPID™) is an indigenously developed product, underscoring the company's end-to-end capabilities in research & development, clinical studies, scale up and manufacturing of biosimilars products. By leveraging integrated infrastructure and expertise, Wockhardt has completed all stages of ASPARAPID™ development - from research to production through in-house development. It offers enhanced quality and accessibility for patients. ASPARAPID™ will be available in cartridges, vials, and prefilled disposable pens, offering flexibility to the patients for management of diabetes. The market size of Aspart in India is currently estimated over Rs 260 crore with only 2 players and is expected to grow significantly in the coming years.

“We are proud of adding another feather in our diabetes biosimilars portfolio through filing of insulin Aspart injection in a market that has limited competition. This reinforces Wockhardt's ability to develop and manufacture complex biosimilars domestically,” said Dr. Habil Khorakiwala, Founder Chairman of Wockhardt. “Our aim is to make world-class diabetes care accessible to patients in India and globally and to contribute meaningfully to the management of diabetes.”

Wockhardt is also developing additional insulin analogs and GLP-1 agonists as part of its comprehensive strategy to provide advanced diabetes care solutions. The introduction of these products will further strengthen Wockhardt's diabetes portfolio, offering patients more effective treatment options for managing their condition.

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