Shares of Wockhardt Ltd. dropped as much as 8.16% to ₹1,976.35 on Tuesday, marking a significant decline from the stock's recent euphoric rally. The pharmaceutical major had previously surged 36.60% over the previous five trading sessions following the company's historic achievement of becoming the first Indian drugmaker to secure US Food and Drug Administration (USFDA) approval for a novel antibiotic discovered and developed in India. According to Business Standard, the current decline comes after the stock had rallied 15.50% over the past week, advanced 41.12% in the last month and is up 38.42% so far in 2026. The latest fall is largely attributed to profit booking sentiment after the euphoric rally that followed the company's major announcement.
In an interview with CNBC-TV18, Chairman Habil F Khorakiwala revealed that the commercial launch of ZAYNICH in the US is expected within the next four to six months, likely before the end of this year or early next year. He estimated the global market opportunity for Zaynich at $1-2 billion, with the US accounting for 40-45% of the potential sales. Peak sales for the drug are also projected in the $1-2 billion range, while patent protection extends until 2038. Khorakiwala noted that Zaynich has demonstrated strong efficacy against multi-drug resistant gram-negative infections and has recorded a success rate of about 90% across nearly 80 compassionate-use cases. The company is also conducting clinical trials to evaluate the drug's use in treating lung infections.
For the quarter ending March 2026, Wockhardt delivered robust financial results with revenue from operations rising 29.87% year-on-year to ₹965 crore compared to ₹743 crore in the same period last year. As reported by Business Standard, consolidated net profit stood at ₹164 crore, compared with a net loss of ₹45 crore in the corresponding period last year. The robust growth in topline was fueled by the Biotech Insulin segment in the Emerging market and the Latam operations, which contributed significant traction to the segment growth. For FY26, Wockhardt had previously posted revenue of ₹3,373 crore, up 11% from ₹3,033 crore in the previous year, while EBITDA increased 51% to ₹630 crore from ₹418 crore.
Commenting on the achievement, Dr Habil Khorakiwala, Founder and Chairman of Wockhardt Group, emphasized the significance of this milestone, stating that "This approval is a significant realisation of our mission to provide patients with novel antibiotics that help to address one of the most urgent global health threats—antimicrobial resistance." According to Business Standard, Khorakiwala highlighted that "Furthermore, ZAYNICH is the first New Chemical Entity fully discovered, developed and commercialised by an Indian pharmaceutical company to secure approval from the U.S. FDA, representing a historic milestone not only for Wockhardt, but for the Indian pharmaceutical industry." This achievement positions Wockhardt as a pioneer in India's pharmaceutical sector, with the company now leading the way in developing and commercializing novel antibiotics domestically.
The approved drug ZAYNICH combines cefepime, a fourth-generation cephalosporin antibiotic, with zidebactam, a novel beta-lactam enhancer. As reported by Business Standard, the therapy is designed to combat multidrug-resistant Gram-negative bacteria, including strains resistant to many existing antibiotics. The FDA's decision was supported by data from the global Phase 3 ENHANCE-1 trial involving 530 patients across 64 sites worldwide. According to the company, ZAYNICH achieved a combined clinical cure and microbiological response rate of 89% at the test-of-cure visit, compared with 68.4% for meropenem. The drug has also been granted Qualified Infectious Disease Product (QIDP), Fast Track and Priority Review designations by the U.S. regulator, with Wockhardt additionally submitting a marketing authorisation application for the product to the European Medicines Agency.
