Wockhardt Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, regarding the utilization of proceeds from its Qualified Institutional Placement (QIP). The pharmaceutical company filed the report with BSE and NSE on February 10, 2026, in compliance with SEBI regulations.

QIP Issue Details and Proceeds

The company's QIP was conducted from November 06, 2024, to November 11, 2024, raising gross proceeds of Rs 1,000.00 crores. After accounting for issue expenses, the net proceeds stood at Rs 977.79 crores, which represents a revision from the originally estimated Rs 973.97 crores due to lower actual expenses.

Quarterly Utilization Progress

During the quarter ended December 31, 2025, Wockhardt utilized Rs 26.60 crores from the QIP proceeds across its stated objectives. The monitoring agency report, prepared by CRISIL Ratings Limited, confirmed no deviations from the objects disclosed in the placement document.

Deployment of Unutilized Funds

The company has invested the unutilized proceeds of Rs 210.50 crores in various mutual funds and maintains a small portion in current accounts. These investments have generated earnings of Rs 13.09 crores as of December 31, 2025.

Compliance and Monitoring

The monitoring agency confirmed that all utilization aligns with the disclosures in the offer document. During the reported quarter, the company redeemed mutual funds and utilized proceeds directly through cash credit accounts for operational convenience. The report noted that the amount utilized for general corporate purposes remains within the regulatory limit of 25% of gross proceeds.

Regulatory Framework

The submission complies with Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report has been reviewed and approved by the company's Board of Directors and Audit Committee.

Wockhardt Limited has announced successful Phase 3 clinical trial results for its novel intravenous antibiotic Foviscu (WCK 4282), marking a significant milestone in the fight against drug-resistant bacterial infections. The antibiotic successfully met its primary endpoint in treating complicated urinary tract infections (cUTI) and acute pyelonephritis caused by Gram-negative bacteria, including extended-spectrum β-lactamase (ESBL)-producing pathogens.

Phase 3 Trial Results and Clinical Performance

In the randomized, double-blind Phase 3 study, Foviscu demonstrated therapeutic equivalence with meropenem, the gold-standard carbapenem widely used for severe drug-resistant Gram-negative infections. The trial results showed impressive clinical outcomes:

This represents the first Phase 3 head-to-head trial of an antibiotic specifically developed for ESBL infections compared directly with meropenem. The study enrolled 323 hospitalized patients with cUTI and acute pyelonephritis across combined Phase 2 and Phase 3 programs, with Phase 2 including 60 patients and Phase 3 encompassing 263 patients.

Addressing Critical Antimicrobial Resistance

The trial results highlight the urgent need for effective alternatives to combat rising antimicrobial resistance in India. Key findings from the patient population include:

• More than half of Enterobacteriales isolates (51.4%) were ESBL-positive
• 33.8% of Gram-negative bacteria were resistant to cefepime
• Most common causative pathogens included Escherichia coli, Klebsiella spp., Enterobacter spp., and Pseudomonas spp.

ICMR data reveals a high burden of ESBLs and rising resistance to commonly used antibiotics such as piperacillin/tazobactam and cefoperazone/sulbactam. This resistance pattern increasingly forces clinicians to rely on carbapenems like meropenem, thereby accelerating carbapenem resistance. Currently, approximately 65 lakh treatment courses of meropenem, piperacillin/tazobactam, and cefoperazone/sulbactam are used annually in India.

Foviscu's Unique Formulation and Development

Foviscu represents a breakthrough as the globally only scientifically developed single-vial dosage form that combines pharmacodynamically optimized and clinically validated doses of tazobactam 2 g and cefepime 2 g. This combination is enabled by proprietary technology designed to ensure safety and efficacy.

The antibiotic has undergone extensive global evaluation through a comprehensive program covering:

• Clinical development across multiple countries
• Pharmacokinetics/pharmacodynamics (PK/PD) studies
• Antimicrobial susceptibility testing methods
• Microbiology studies on global bacterial isolates

Phase 1 and renal impairment studies were conducted in The Netherlands, PK/PD studies in the US, Europe and India, and microbiology studies on global bacterial isolates in the US and India.

Strengthening Wockhardt's Antibiotic Portfolio

With this Phase 3 success, Foviscu becomes the fifth proprietary antibiotic from Wockhardt to complete a registration-enabling Phase 3 study. The company's antibiotic portfolio now includes:

This achievement further strengthens Wockhardt's leadership in antibiotic discovery, with the company maintaining focus on discovering novel medicines for multi-drug resistant infections for over 25 years. All six products in Wockhardt's drug discovery portfolio at various stages of clinical development and commercialization have been granted Qualified Infectious Disease Product (QIDP) status by the US FDA, including WCK 4282.

Regulatory Support and Future Implications

The combined Phase 2/3 trial received partial support from the National Biopharma Mission (NBM), an initiative of the Department of Biotechnology, Government of India. Foviscu's strong activity against ESBL-producing pathogens has been documented in several peer-reviewed publications in leading international journals.

By providing an effective alternative to carbapenems, Foviscu has the potential to reduce carbapenem use and strengthen antibiotic stewardship efforts to curb antimicrobial resistance. This development represents a crucial step forward in addressing the growing challenge of drug-resistant bacterial infections, particularly in healthcare settings where ESBL prevalence remains high.