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    Wockhardt's UTI drug to reduce hospitalisation; NIH to conduct Phase-1 trials: Habil Khorakiwala

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    Wockhardt's UTI drug to reduce hospitalisation; NIH to conduct Phase-1 trials: Habil Khorakiwala

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    The National Institute of Allergy and Infectious Diseases (NIAID) in the US is supporting phase-1 clinical trials of a new drug under development. CNBC-TV18 spoke to Habil F Khorakiwala, chairman of Wockhardt to understand more about the drug and trial.

    The National Institute of Allergy and Infectious Diseases (NIAID) in the US is supporting phase-1 clinical trials of a new drug under development. CNBC-TV18 spoke to Habil F Khorakiwala, chairman of Wockhardt to understand more about the drug and trial.
    Khorakiwala said that this is the first time that NIH will be conducting a phase-1 trial for any company in India.
    Talking about the drug, he said that it is expected to reduce hospitalisations and is focused on urinary tract infections (UTIs). “The US FDA has given qualified infectious disease product (QIDP) status which means faster release,” said Khorakiwala.
    On business, he said that the company will look at debt reduction of Rs 500 crore via rights issue funds. “The rights issue is Rs 750 crore and we would be managing the debt to the extent of Rs 500 crore of reduction and balance of the money will be used for corporate general purposes,” Khorakiwala said.
    For more details, watch the accompanying video
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