Wockhardt fall 20 percent on after the US Food and Drugs Administration issued an import alert on one of the pharma company's manufacturing facility at Aurangabad in Maharashtra.
An import alert means detention of drugs without physical examination from firms, which have not complied with current good manufacturing practises, the drug regulator states.
The US FDA had issued a 483 form through a routine course of inspection of one of its facilities in Aurangabad in April. A form 483 is issued when the FDA observes any violation from standard manufacturing practices.
Wockhardt Chairman Habil Khorakiwala confirmed estimate that it would impact our business by USD 100 million on an annualised basis,".He further said that the company won't be able to export products to the US from the facility, which makes injectables as well as solid dosages.
Wockhardt shares closed down 20 percent (lower circuit limit) at Rs 1,313.80 on NSE. The stock more than trebled in financial year 2013.
People can exit Short position,hope you had made profit
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