Wockhardt gains after getting USFDA OK for generic eye drops

Wockhardt rose 1.17% to Rs 612.10 at 9:20 IST on BSE after the company said it received final approval from the US drug regulator for Olopatadine HCl eye drops.The announcement was made after market hours yesterday, 3 July 2017. Meanwhile, the S&P BSE Sensex was up 29.49 points, or 0.09% to 31,251.11. On the BSE, 31,000 shares were traded in the counter so far, compared with average daily volumes of 1.65 lakh shares in the past one quarter. The stock had hit a high of Rs 615.30 and a low of Rs 606.50 so far during the day. The stock hit a 52-week high of Rs 1,129 on 21 July 2016. The stock hit a 52-week low of Rs 555 on 22 June 2017. Financial Astrology Tips

The stock had underperformed the market over the past one month till 3 July 2017, falling 3.49% compared with 0.17% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.93% as against Sensex's 4.38% rise. The scrip had also underperformed the market in past one year, falling 36.48% as against Sensex's 14.45% rise.The mid-cap company has equity capital of Rs 55.28 crore. Face value per share is Rs 5. Wockhardt said it has received final approval from the United States Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for 0.1% ophthalmic solution of Olopatadine HCI. The eye drop Olopatadine HCI 0.1% ophthalmic solution is a generic version of Patanol, marketed in the United States by Alcon, a subsidiary of Novartis. The product will be manufactured at a USFDA approved contract manufacturing organization, based in Montreal, Canada. Astrology and Numerology Trading Tips