Shares of pharmaceutical firm Wockhardt Ltd today surged nearly 12 per cent after the company said Himachal Pradesh drug regulator has revoked the suspension imposed on sale and manufacturing of a combination medicine used for treatment of pain.
Wockhardt's scrip rose sharply by 11.73 per cent to settle at Rs 721.80 on the BSE Sensex. In intra-day, the stock climbed 14.55 per cent to Rs 740.
At the NSE Nifty, the scrip soared 11.42 per cent to Rs 722.
In terms of volume, 18.87 lakh shares of the company changed hands at the BSE, while over 57 lakh shares were traded at the NSE during the day.
"The State Drug Controller, Himachal Pradesh, has now revoked the suspension and accordingly the company will continue to manufacture, sell and distribute the fixed dose combination (FDC) of cicyclomine hydrochloride IP 10mg, tramadol hydrochloride IP 50mg and acetamenophen IP 325mg," Wockhardt said in a filing to the BSE.
Last week, the company had said Himachal Pradesh state drug controller has suspended the manufacture, sale or distribution of the said FDC medicine.