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Will not do any out-licensing in near-term: Wockhardt

Habil Khorakiwala, Founder, Chairman and Group CEO, Wockhardt says US FDA granting a QIDP status to WCK 5222 drug makes it the only company globally to receive this status for its fourth drug.

US Food and Drug Administration (FDA) has granted Wockhardt ’s drug WCK 5222 a qualified infectious disease product (QIDP) status. This status allows for expedited review and five extra years of market exclusivity for antimicrobials designed to treat serious and life-threatening infections.

With this, the drug will enter Phase II clinical trial in next six months, says Habil Khorakiwala, Founder, Group CEO and Chairman of the company.

Last year the company got the same status for WCK 771, WCK 2349 and WCK 4873 drugs which are in their Phase II and III clinical trials, Khorakiwala tells CNBC-TV18.

Calling it to be a “breakthrough status” given to anti-biotics, he says the move makes Wockhardt the only company to receive this status for its fourth drug globally.

The company will not do any out-licensing in near-term, he adds. 

Transcript to follow..

Wockhardt stock price

On December 08, 2015, Wockhardt closed at Rs 1637.25, down Rs 14.4, or 0.87 percent. The 52-week high of the share was Rs 2000.00 and the 52-week low was Rs 870.00.

The latest book value of the company is Rs 96.99 per share. At current value, the price-to-book value of the company was 16.88.


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