Shares of Wockhardt Ltd. surged up to 10% on Friday, January 3, following the company’s announcement of a key regulatory approval. The Central Drugs Standard Control Organization (CDSCO) has approved Nafithromycin, branded as Miqnaf, a new-generation oral antibiotic designed to treat community-acquired bacterial pneumonia (CABP) in adults.
Miqnaf, an ultra-short, once-daily treatment course for three days, targets CABP caused by multi-drug-resistant pathogens, including S. pneumoniae and H. influenzae. Developed over 15 years through extensive clinical trials conducted in the US, Europe, South Africa, and India, the drug represents a significant advancement in antibiotic therapy.
CABP poses a major health challenge globally, with India bearing 23% of the disease burden. Wockhardt plans to introduce Miqnaf in the Indian market within the next few months, with further regulatory approval expected in Saudi Arabia.
Wockhardt Chairperson Habil F. Khorakiwala anticipates capturing a 65–70% market share in India over the next 4–5 years, valuing the market potential at ₹4,000–5,000 crore. He also projects revenue of ₹500–700 crore from Miqnaf within 2–3 years.
As reported by cnbctv18, the announcement bolstered Wockhardt’s stock, which rose 6% to ₹1,529 in afternoon trade. The company’s shares have seen remarkable growth, climbing over 200% in 2024, making it the best-performing year for the stock since 2012.