Shares of Wockhardt Ltd. rallied 5% to hit an upper circuit at Rs 1,005.70 on 19th September, after the company announced that its investigational drug, Zaynich, has successfully treated critically ill patients with drug-resistant meningitis.

One case involved a 64-year-old patient suffering from Type 2 diabetes and hypertension who received Zidebactam/Cefepime for three weeks as part of a compassionate use program. Wockhardt noted that the patient’s condition improved rapidly, enabling him to be removed from the ventilator, and the medication was well-tolerated during the entire treatment period.

Wockhardt also mentioned that in the past year, the drug has effectively treated over 35 critically ill patients in India and the US who were suffering from extremely drug-resistant infections.

Wockhardt’s drug candidate is undergoing multinational Phase III clinical trials and should get completed in the next 2-3 months. The regulatory filing will subsequently be followed by the launch of the drug by 2026.

Chairman Habil Khorakiwala highlighted the large market potential, with around 7 lakh patients in the US and 11 lakh in India. Similar treatments in the US cost between $8,000 and $10,000 per patient. Khorakiwala also emphasised the importance of completing Phase III trials before exploring licensing opportunities with the USFDA.

He mentioned that past talks with pharma companies for a tie-up didn’t materialise due to valuation issues, but the company plans to revisit these discussions after completing trials.

Wockhardt’s clinical trials in India are expected to finish in 2-3 months, after which they will seek approval from the DCGI.

At 3:17 PM, the shares of Wockhardt Ltd. were trading 5% higher at Rs 1,005.70 on NSE.

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