Friday, 23 June 2017

Wockhardt Shares Gained As Much As 3 Percent In Morning Trade

Wockhardt shares gained as much as 3 percent in morning trade after its subsidiaries settled commercial litigation with Teva Pharmaceuticals.

"Wockhardt UK Holdings and CP Pharmaceuticals, in the United Kingdom have settled an ongoing commercial litigation before the High Court in London, UK in relation to supply contract for a drug named Trisenox," the healthcare firm said in its filing.

The dispute between parties was in respect of the price charged by CP to its counterparty to the contract, Cephalon Inc, an affiliate of Teva Pharmaceuticals USA Inc.

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