Thursday, June 5, 2014

Wockhardt recalls 8712 hypertension drug bottles in US mkt

Drug major  Wockhardt  is recalling over 8,000 bottles of anti-hypertension drug Metoprolol Succinate extended-release tablets in the US market following failure of a dissolution test. According to US Food and Drug Administration (USFDA), Wockhardt USA Inc, a subsidiary of Mumbai-based firm is voluntarily recalling 8,712 bottles of the drug in the American market. The recall is due to the "failure of dissolution test observed at three month time point", USFDA said. The nationwide recall was initiated on April 10. The 100 mg tablets in 100-count bottles were manufactured by Wockhardt Ltd and distributed in the US market by Wockhardt USA Inc, it added. The withdrawal was classified as a Class-II recall, which the FDA defines as "a situation in which use of or exposure to a violative product may cause temporary or medicallyreversible adverse health consequences or where the probability of serious adverse health consequences is remote". Comments from Wockhardt could not immediately be obtained. Wockhardt scrip closed at Rs 573.55, up 0.16 per cent, on the BSE. Wockhardt stock price On June 05, 2014, Wockhardt closed at Rs 573.55, up Rs 0.90, or 0.16 percent. The 52-week high of the share was Rs 1218.95 and the 52-week low was Rs 336.60. The company's trailing 12-month (TTM) EPS was at Rs 18.05 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 31.78. The latest book value of the company is Rs 74.39 per share. At current value, the price-to-book value of the company is 7.71.

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