Wockhardt jump 10 per cent post announcing partnership with UK Government
Wockhardt, the global pharmaceutical and biotechnology major, on Monday, announced that it has entered into an agreement with the UK Government to fill-finish COVID-19 vaccines.
The manufacturing will be undertaken at CP Pharmaceuticals, a subsidiary of Wockhardt based in Wrexham, North Wales.
As per the terms of the agreement, the company has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against COVID-19, including AZD1222, the vaccine co-invented by the University of Oxford and its spin-out company, Vaccitech and licensed by AstraZeneca.
The government has reserved one fill and finish production line for its exclusive use for the next 18 months in order to guarantee the supply of vaccines required to fight COVID-19 in the UK.
The stock closed at 303.60, up by 10 per cent or Rs 27.60 per share. The intraday high is Rs 303.60 and the intraday low is Rs 276. Since the beginning of the year, the stock has given a return of 29.19 per cent thereby underperforming Nifty Pharma index, which gave a return of 38.29 per cent.