Shares of Wockhardt tumbled as much as 7% to their day’s low of Rs 2,005 on the BSE on Tuesday, halting an impressive 36% rally in just five sessions. The drop comes as investors took profits off the table following the surge.
In the previous session, shares rallied 6% after the company announced that the U.S. Food and Drug Administration (FDA) has approved ZAYNICH (cefepime and zidebactam), a novel intravenous antibiotic for treating adults with complicated urinary tract infections (UTI), including pyelonephritis, caused by susceptible Gram-negative pathogens.
