Wockhardt gets US FDA nod to enter the US$ 2.6 billion Norvasc market

Wockhardt Ltd has announced that the Company is all set to launch Amlodipine tablets in the US market. The tablets to be marketed are in strengths of 2.5 mg, 5 mg and 10 mg Amlodipine besylate, which is used for treating hypertension and other related cardiac ailments. Amlodipine is the generic name for the brand Norvasc, sold in the US by Pfizer Inc. As per IMS, the US market for Amlodipine tablets is about $2.6 billion equivalent to 1.7 billion tablets.

"Wockhardt is gaining a very strong position in several other cardiovascular products, like Enalapril and Captopril. With Amlodipine, Company will reinforce our robust cardiovascular portfolio ", said the Company's Chairman Habil Khorakiwala. "This rapid increase in our US product portfolio is enabling us to synergistically gain market share across products".

The Amlodipine tablets are manufactured at the US FDA certified formulation plant at Waluj, Maharashtra. The product was developed in-house.

The Stock closed the day at Rs.400.70, up by Rs.5.90 or 1.49%. The stock hit an intraday high of Rs.402.95 and low of Rs.386. The total traded quantity was 17522 compared to 2 week average of 31142.

Source : Equity Bulls

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