Wockhardt stock has been up for 11 straight sessions, helping it deliver 64 percent returns in just the past month.
live bse livense live Volume Todays L/H More ×Wockhardt shares have been on a skyward journey, surging close to 40 percent in five consecutive sessions and hitting a 52-week high of Rs 943 on July 3.
Bullishness over the company stems from two of its promising antibiotics, which are heading closer to a probable launch in India.
This comes after the company's investigational antibiotic drug Zaynich, filed as WCK 5222 managed to successfully treat a cancer patient in the US, marking the first such instance.
The company plans to launch Nafithromycin in India in the coming months, , founder-chairman Habil F Khorakiwala told NDTV Profit earlier this year.
Wockhardt stock has been up for 11 straight sessions, helping it deliver 64 percent returns in just the past month.
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Wockhardt shares have been on a skyward journey, surging close to 40 percent in five consecutive sessions and hitting a 52-week high of Rs 943 on July 3. Bullishness over the company stems from two of its promising antibiotics, which are heading closer to a probable launch in India.
This comes after the company's investigational antibiotic drug Zaynich, filed as WCK 5222 managed to successfully treat a cancer patient in the US, marking the first such instance.
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On top of that, the drugmaker has also applied to the Drug Controller General of India for Nafithromycin (filed as WCK 4873 and used to treat pneumonia). The company also stated that it would launch the product in a couple of months after the approval comes.
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The drug holds the potential to seize market share from Azithromycin due to its superior results and quicker efficacy. Wockhardt has secured two patents for this drug, with expirations in 2031 and 2037, providing ample time to capitalise on its robust R&D efforts. The company plans to launch Nafithromycin in India in the coming months, , founder-chairman Habil F Khorakiwala told NDTV Profit earlier this year.
While Nafithromycin is likely to see a launch in FY25, targeting a market size of hundreds of crores over the next three to five years, the phase 3 trials for Zaynich are likely to be completed by the last quarter of the current fiscal.
With plans to launch Zaynich by FY26, contingent on successful phase 3 trials, the company aims to enter a market valued at $1.5 billion annually in developed countries and $263 million in developing countries.
It is the company's research and development prowess and focus on niche high-margin, low competition segments that is driving bullishness for the stock. Aiming to grab a pie of Wockhardt's expected robust growth curve, ace investors Madhusudan Kela, and Prashant Jain participated in the company's Rs 480 crore QIP earlier this year. The fund raise was aimed to gather money for Zaynich's phase 3 trials.
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The management also remains optimistic of delivering better results in the times ahead. Talking to CNBC-TV18 earlier this year, founder-chairman Habil F Khorakiwala said he expects the company to achieve profitability by the second half of FY25. Margins are also likely to improve after the launch of Nafithromycin and Zaynich in India, he added.
Betting on the company's bright future, investors have also showered shares of Wockhardt with love, helping it stay in the green for 11 straight sessions. The strong uptrend helped the stock deliver 64 percent returns in just the past month. On July 3 as well, shares of Wockhardt surged close to 10 percent intraday.
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