Wockhardt Ltd.'s share price rose to its highest level since February 2016 on Wednesday after it filed its fast-acting insulin analog Aspart injection with the Drugs Controller General of India.
The company said its indigenously developed Aspart insulin injection called ASPARAPID showcases comprehensive capabilities in research and development, clinical studies, and manufacturing of biosimilars.
By utilising its integrated infrastructure and expertise, Wockhardt has successfully managed the entire development process in-house, enhancing both quality and accessibility for patients, a statement said.
ASPARAPID will be available in cartridges, vials, and prefilled disposable pens, providing flexible options for diabetes management. The current market size for Aspart in India is estimated to be over Rs 260 crore, with only two competitors, and is expected to experience significant growth in the coming years, Wockhardt said.
The Mumbai-based pharma company is also developing additional insulin analogs and GLP-1 agonists as part of its comprehensive strategy to provide advanced diabetes care solutions to strengthen its diabetes portfolio.
Wockhardt claims to be among the few diabetes biosimilars companies that have designed and developed its own disposable and reusable pens, secured by global patents. The company operates three fully equipped drug product facilities—two in India and one in the UK—capable of handling various dosage forms, including cartridges, vials, pre-filled syringes, and pen assembly.
Wockhardt Share Price Movement
Wockhardt stock has risen 342% in the last 12 months and 160% on a year-to-date basis.
Wockhardt stock has risen 342% in the last 12 months and 160% on a year-to-date basis.
Wockhardt's share price advanced over 4% intraday to Rs 1,127.25 apiece, the highest since Feb. 2, 2016. The scrip was trading 1.8% higher at Rs 1,099 per share by 12:50 p.m. The benchmark NSE Nifty 50 was down 0.4%.
The stock has risen 342% in the last 12 months and 160% on a year-to-date basis. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 72.
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