Wockhardt plunges 20% on FDA's import alert

Wockhardt shares crashed 20 per cent on Thursday after the U.S. Food and Drug Administration issued an import alert for the drug maker's Aurangabad unit. Wockhardt has three plants in Aurangabad.

Wockhardt shares were down 20 per cent at Rs 1,315.25 on the BSE as of 2.33 p.m. (Track stock)

An import alert is issued when the FDA thinks a company's products present safety problems for U.S. citizens. The Import Alert follows FDA raising observations/queries related to Wockhardt's injectable block.

FDA's decision can impact Wockhardt's sales by $100 million plus if the import alert is for its entire Export Oriented Units (EoU).  

Toprol XL, Wockhardt's biggest product with sales of over $120 million is not manufactured in Aurangabad.