Mumbai: Shares of Wockhardt Monday fell as much as five percent in morning trade on the bourses after the UK health regulator withdrew certification of its Chikalthana facility in Maharashtra.
On October 12, Wockhardt had said that the Medicines and Healthcare Products Regulatory Agency, United Kingdom (UKMHRA) has decided to withdraw the previously issued GMP Certificate to the company's manufacturing facility situated at L1, MIDC, Chikalthana, Aurangabad.
Reacting to the development, the shares of the company slumped to their maximum possible limit on the bourses and hit the lower circuit limit of Rs 499.30, down 4.99 percent on the BSE.
Similar movement was witnessed on the National Stock Exchange as well, where the stock slumped 5 percent and hit its lower circuit limit of Rs 499.65.
MHRA has also said it "will be issuing a restricted GMP (good manufacturing practice) Certificate to the site along with a statement of non-compliance for the said site," it added.
The impact of the same on existing business will only be known once the company receives further communication from UKMHRA, Wockhardt said.