Wockhardt declines on recalling 109,744 bottles of a high blood pressure drug

Wockhardt is currently trading at Rs. 785.70, down by 9.55 points or 1.20% from its previous closing of Rs. 795.25 on the BSE. The scrip opened at Rs. 802.85 and has touched a high and low of Rs. 819.90 and Rs. 778.50 respectively. So far 276207 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1909.85 on 16-May-2013 and a 52 week low of Rs. 336.60 on 16-Dec-2013. Last one week high and low of the scrip stood at Rs. 822.00 and Rs. 748.50 respectively. The current market cap of the company is Rs. 8768.66 crore. The promoters holding in the company stood at 74.70% while Institutions and Non-Institutions held 7.84% and 17.32% respectively. Wockhardt has reportedly recalled 109,744 bottles of a high blood pressure drug -- metoprolol succinate -- in the United States after it failed a dissolution test. Metoprolol succinate extended release is a cheaper generic form of AstraZeneca Plc’s branded drug Toprol. Dissolution tests are commonly conducted to check the time taken for the active ingredient in a drug to release into the body, and help predict how the drug performs inside the body. Last year, two of the company’s manufacturing plants were banned from exporting to the United States after the FDA found violations of manufacturing standards that the agency believed could compromise the quality of drugs. One of those plants was making metoprolol succinate for the United States.