Wockhardt shares hit 10% upper circuit on COVID vaccines tie-up with UK govt

The company will fill-finish COVID-19 vaccines at CP Pharmaceuticals, a subsidiary of Wockhardt in Wrexham, North Wales.

Wockhardt share price surged 10 percent to hit the upper circuit at Rs 303.40 on BSE on August 3 after the pharmaceutical company announced a COVID-19 vaccine partnership with the UK government.

Wockhardt said it had 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 COVID19, including AZD1222, the vaccine co-invented by the University of Oxford and its spinout company, Vaccitech, and licensed by AstraZeneca," the company said.

Speaking about the contract Ravi Limaye, Managing Director, Wockhardt UK, said: “We are immensely proud to have been selected to partner with the UK government on this project. In doing so, we are taking a lead role in the nation’s fight against the pandemic of COVID-19.”

Wockhardt shares have been in the green for the past five consecutive sessions, gaining 18 percent.

Source - Moenycontrol.com

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