Wockhardt Ltd shares rose significantly during Monday’s trading session, establishing a new 52-week high. This growth coincides with news that the pharmaceutical company plans to introduce its antibiotic medicine Zaynich in the United States at the start of the next fiscal year. The medicine, used to treat cancer patients, is expected to be available at a significant discount.

Details about the upcoming launch

Wockhardt has revealed that its Zaynich research and trials are developing well, with the company planning to launch in early FY26. The company intends to launch Zaynich at a discount of 85-90%, which is significant given that the drug costs roughly $15,000 (Rs 12.50 lakh) in the US market.

Market Potential and Investment

Zaynich’s creator and chairman, Habil Khorakiwala, believes the company has a $25 billion market potential. Wockhardt has committed more than $500 million in research, yielding six triumphs, including Zaynich, which is currently in various stages of development and marketing.

Stock Performance

Following the announcement, Wockhardt’s shares rose 15.94% to Rs 795.80 on Monday, setting a new 52-week high. The company’s market value exceeds Rs 12,000 crore. On the previous trading day, Friday, the shares closed at Rs 686.40 each. Wockhardt’s shares have nearly doubled in value over the last two years, rising from roughly Rs 200. The stock has risen by over 275% from its 52-week low of Rs 213.25 in October 2023. By 2024 alone, the stock has rallied about 70%, with a 30% gain in the last month.

Financial Transactions and Future Plans

In March 2024, Wockhardt funded Rs 480 crore through a Qualified Institutional Placement (QIP) by offering 92.85 lakh equity shares at Rs 517 each. Since the QIP, the stock has gained roughly 54%. The company intends to broaden its offering in the next months to include biologicals, novel insulins, and other diabetic medicines.

Conclusion

Wockhardt Ltd’s strategic ambitions and major investment in R&D have positioned the company for rapid expansion. Zaynich’s imminent debut at a low discount in the US market is a significant milestone that could boost the company’s market presence and stock performance. Investors and stakeholders are keeping a close eye on Wockhardt’s continued innovation and expansion of its product offerings.

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