Wockhardt Share Price remains on rally form past 10 days. The share price jumped up 5.39% on Thursday, 04th July’ 2024to hit a new 52-week high of ₹995 on the NSE. Over the past 5 days, Wockhardt share have surged 36.34% with a past month surge of 79.98%. It’s look like a miracle, the highest gain in the pharmacy stocks.
Wockhardt Share Price Performance Details:
Wockhardt Share Current Price: NSE: ₹936.10 (as of July 4, 2024) with Market Cap at ₹14,317 Cr.
NSE: WOCKPHARMA, Wockhardt Share Price Movement:
- 39% up from opening price on July 4, 2024
- Opening Price (July 4, 2024): ₹900.00
- High Price (July 4, 2024): ₹995.00
- Low Price (July 4, 2024): ₹895.00
- 52 Week High: ₹995.00 (July 4, 2024)
- 52 Week Low: ₹213.25 (October 26, 2023)
Wockhardt Share Price Boosting | Here’s the reason Zaynich (WCK 5222)?
The recent surge in Wockhardt’s share price can be largely attributed to the positive developments surrounding its investigational antibiotic, Zaynich (WCK 5222). Zaynich (Zidebactam/Cefepime- WCK 5222) to Treat a Cancer Patient in US with Chronic Bilateral Thigh Infection Caused by an Extreme-Drug Resistant Pseudomonas
Wockhardt Share Price Boosting, factors contribute to this:
Successful Treatment of US Cancer Patient: On 28th June 2024, Wockhardt announced the successful use of Zaynich to treat a chronic thigh infection in a young cancer patient who had been hospitalized for nine months. This demonstrated the drug’s potential to combat complex infections caused by extremely drug-resistant bacteria.
Potential to Address Antibiotic Resistance: Zaynich has shown promise in addressing the growing concern of antibiotic resistance. It has been effective against major superbugs that have become resistant to most existing antibiotics. This positions the drug as a potential solution to a significant global health challenge.
Positive Clinical Trials: Zaynich is currently undergoing multi-national Phase 3 trials, which are expected to support its registration and marketing authorization globally. These trials are crucial in assessing the drug’s efficacy and safety.
Upcoming Launch and Pricing Strategy: Wockhardt is expected to launch Zaynich in India by the end of FY25 (March 2025) and globally in FY26 (March 2026). The company has also indicated a potential pricing strategy that would make the drug accessible in India at a significantly lower price compared to its global price.
Market Potential: The market for new antibiotics targeting drug-resistant infections is substantial. Zaynich is estimated to have a potential market of $25 billion. This significant market potential has further fueled investor interest in Wockhardt.
Overall, the combination of these factors has created a positive sentiment around Wockhardt and its potential in the pharmaceutical market. Investors are optimistic about Zaynich’s potential success and its impact on Wockhardt’s future growth prospects, driving up the company’s share price. Even Media Industry also played a significant role in this surge.