Wockhardt and Jemincare partner for novel respiratory antibiotic Nafithromycin

Wockhardt Bio AG - a subsidiary of Wockhardt Limited, ("Wockhardt"), a worldwide leader in discovery of novel antibiotics and Jiangxi Jemincare Group Company Limited, China ("Jemincare"), have partnered for Wockhardt's novel patented antibiotic WCK 4873 (INN: Nafithromycin) in People's Republic of China, Hong Kong, Macau and Taiwan for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections.

Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialization of the Nafithromycin in the select markets. A joint steering committee is formed to oversee development and regulatory activities. Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales. Wockhardt would transfer the manufacturing technology to Jemincare at mutually agreed time.

Dr. Habil Khorakiwala, Founder Chairman of Wockhardt Group said, "Wockhardt has been at the forefront in the fight against Anti-Microbial Resistance (AMR) which has been identified as one of the top threats by WHO. Our novel drug discovery program of around 20 years has yielded a rich pipeline of products which are at different stages of commercialization. This arrangement upholds our commitment in the fight against AMR."

Wockhardt will continue to develop Nafithromycin for other markets including India where Phase III clinical study is on-going.

"We are happy to partner with a company of repute like Jemincare in China, which is also one of the biggest market. We are confident that Jemincare with its excellent standing in the China market will do full justice to the potential of the product.", noted Dr. Murtaza Khorakiwala, Managing Director, Wockhardt.

Dr. Mahesh Patel, Chief Scientific Officer of Wockhardt added, "Bacterial pneumonia and other respiratory tract infections trigger the highest volume of antibiotic prescriptions world over. Prevalence of antimicrobial resistance poses a therapeutic challenge to physicians with extremely limited safer and effective therapeutic options, particularly for most vulnerable group such as pediatric and older age group patients. Nafithromycin has been designed to overcome resistance in several respiratory pathogens. It would provide a compliance-friendly once-aday, three-day therapy option, most appropriate for community origin respiratory infections."

Shares of Wockhardt Ltd was last trading in BSE at Rs. 415.45 as compared to the previous close of Rs. 436.6. The total number of shares traded during the day was 1228485 in over 8032 trades.

The stock hit an intraday high of Rs. 464.85 and intraday low of 411.05. The net turnover during the day was Rs. 537956405.

Source : Equity Bulls

Keywords