Wockhardt jumps on tie-up with China's Jemincare for respiratory antibiotic

Wockhardt

26/08/2021 05:58

** Shares of the pharmaceutical firm  WCKH.NS  rise as much
as 6.5% to 465 rupees, marking the biggest intraday pct jump in
nearly two weeks
    ** WCKH unit and China's Jemincare partner for WCKH's
patented antibiotic Nafithromycin in People's Republic of China,
Hong Kong, Macau and Taiwan for treatment of community-acquired
bacterial pneumonia and other respiratory tract infections
 urn:newsml:reuters.com:*:nFWN2PW13O
    ** Jemincare to exclusively develop, commercialize
Nafithromycin in select markets
    ** WCKH to receive upfront payment, will be eligible for
regulatory-linked milestone payments; WCKH to also supply 
product to Jemincare, receive royalties on net sales
    ** Wockhardt to transfer manufacturing technology to
Jemincare at "mutually agreed time"
    ** WCKH did not disclose financial details of the deal
    ** Around 1.3 mln shares trade by 0451 GMT, vs 30-day avg of
669,404 shares
    ** Stock down ~20% YTD up to last close, vs 7% rise in the
Nifty Pharma index  .NIPHARM 

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))