After a stellar rally on Monday, shares of Wockhardt Ltd. have once again risen in trade on Tuesday and is trading with gains of up to 5%. The stock is currently trading at Rs 1,546, reaching an intraday high of Rs. This compares to Monday's closing price of Rs 1,472, as the positive momentum in the stock continues. This rally serves as a major relief for a stock that has given largely flattish return on a year-to-date basis.

Wockhardt Shares Extend Gains - Here's Why The Stock Has Been Rising

The stock price of Wockhardt Ltd. continued its upward trend on Tuesday, with shares rising up to 5% in trade.

This rally marks a significant relief for a stock that has given largely flat returns on a year-to-date basis.

The sharp rise in Wockhardt shares comes on the back of Monday's development, as the company confirmed USFDA approval for Zaynich antibiotic.

USFDA approval is a major milestone for Wockhardt and Indian pharma companies, highlighting their ability to innovate.
The FDA has also granted Zaynich a fast-track status, an expedited review process for drugs showing promise in treating serious conditions.

Zaynich is a combination drug that has shown 97% efficacy against serious carbapenem-resistant infections during clinical trials.

The drug has been used under compassionate use for critically ill patients in India and the US.
This approval from the USFDA may open up significant market opportunities for Wockhardt in the United States.

With this approval, Wockhardt positions itself as an innovator in the pharmaceutical industry, paving the way for future growth and opportunities.