Shares of pharmaceutical company Wockhardt soared by 20% on Monday, hitting the highest tradable limit for the day, following the announcement of a significant milestone in the use of its investigational antibiotic, Zaynich. The stock closed at ₹823.65, marking its highest closing in over six years.
The company revealed that Zaynich was effectively used in the US to treat a complex infection in a cancer patient, making it the first instance of the antibiotic combating an extreme-drug-resistant Pseudomonas infection. The patient, a young immune-compromised cancer patient, had been hospitalized for nearly nine months at the Children’s Hospital of Orange County, University of California Irvine School of Medicine. The patient was successfully treated with a four-week course of Zaynich for a chronic thigh infection under compassionate use, which allowed doctors to resume chemotherapy.
Analysts are optimistic about Wockhardt’s future, particularly with the drug anticipated to be ready for commercialisation by the end of FY25. T Manish, a research analyst at SAMCO Securities, highlighted the significance of this development in the context of rising cancer-related deaths, expected to constitute about 12% of total deaths by 2030. He noted that the recent uptrend in Wockhardt’s stock is sustainable in the long term, given the potential impact of Zaynich on the company’s financials.
As reported by Economic Times, Wockhardt’s breakthrough with Zaynich underscores the importance of developing new antibiotics to combat drug-resistant infections, especially in vulnerable cancer patients. The successful treatment in the US sets a promising precedent for the drug’s future applications and commercial potential.