Despite poor market sentiment, Wockhardt’s share price increased 4% in intraday trading on the BSE on January 13 after the announcement that their antibiotic Zaynich was 97% effective against resistant infections. Over the last year, the stock has increased by over 21%. Despite poor market sentiment, Wockhardt’s share price surged to 4% in early trading on Monday, January 13. In contrast to their previous closing of ₹1,386.95, Wockhardt shares began at ₹1,375.05 and quickly surged 4% to ₹1,441.95. The BSE stock was up 2.90 percent at ₹1,427 at roughly 10:50 AM, although they erased some gains.
What Influenced Today’s Wockhardt Share Price?
Following its announcement in an exchange filing that a life-saving antibiotic it created achieves over 97% effectiveness in clinical testing for severe infections caused by meropenem-resistant gram-negative bacteria, Wockhardt’s share price surged in a poor market.
In an exchange filing on Monday, January 13, Wockhardt stated that Zaynich (Zidebactam/Cefepime, WCK 522) showed over 97% clinical efficacy in treating critically ill patients with infections brought on by carbapenem-resistant (including meropenem-resistant) gram-negative pathogens in a groundbreaking clinical study.
At the test-of-cure (TOC), which was 7–10 days after treatment was finished, Zaynich’s overall clinical efficacy across indications was 98%. For bloodstream infections (BSI), hospital-acquired bacterial pneumonia (HABP) or ventilator-associated bacterial pneumonia (VABP), and complicated intra-abdominal infections (cIAI), it was 100%. For complicated urinary tract infections (cUTI), it was 97.3%. Notably, Zaynich also showed remarkable rates of pathogen elimination (microbiological cure), including patients with BSI (100%) and more difficult-to-treat HABP/VABP (91%), according to the firm.
Wockhardt said in June last year that it will introduce its new antibiotic medication, Zaynich (WCK 5222), in India by the end of 2024–2025, with a worldwide launch scheduled for 2025–2026.
According to media sources, Wockhardt believes that since there are no comparable medications in the research pipeline, there won’t be any competition for this medication worldwide for at least the next 15 years. According to the statistics, the entire addressable antibiotic market worldwide is worth about $25 billion.
The USFDA has granted QIDP status (qualified infectious disease product) to six of Wockhardt’s antibacterial discovery programs, three of which are gram-negative and three gram-positive and effective against untreatable superbugs. According to its exchange filing, Wockhardt is the only company worldwide to receive this designation. International enterprises account for 79% of Wockhardt’s global revenues, and the company is well-represented in the USA, Europe, and India.
The trend of Wockhardt’s Share Price:
Over the past year, Wockhardt stock has produced multi-bagger gains. Considering Monday’s peak of ₹1,441.95, the stock has increased by around 21% in the past year. It peaked on January 3 of this year at ₹1,580, its 52-week high. The stock fell to ₹402.85, its lowest level in 52 weeks, on January 18 of last year. Despite poor stock market sentiment, the stock increased by more than 23% in October, more than 16% in November, and about 1% in December last year. As of this writing, the stock is flat for January.
