Wockhardt has secured USFDA approval for its novel antibiotic Zaynich after 12 years of development. The drug targets multidrug-resistant bacteria and carries a projected peak sales potential of $1.5 billion. The approval has lifted investor sentiment, pushing the company's stock higher.
The approval marks a potential turning point for Wockhardt, which has posted net losses in recent years. Zaynich was developed to address infections resistant to existing treatments, filling a gap in the pharmaceutical market for new antibiotics.
