Wockhardt, one of the leading pharmaceutical and biotechnology company, witnessed a sharp fall in share price on Tuesday after the company decided to recall some products from the US market.

During the last US FDA cGMP inspection of the facilities at L1- Chikalthana and Waluj in Aurangabad, Maharashtra, some observations were reported pertaining to batches of some products manufactured prior to the US FDA Import Alerts, the company said.

Whereas the company continues to supply some of the products in the US market manufactured in the same facilities, several batches of other products, manufactured prior to the Import Alerts may still be in the US market.

'As a measure of preparedness and as an abundant precaution, the company has now decided to recall, as a part of remedial measure all the remaining batches in the US market that were manufactured prior to the US FDA Import Alerts even though there is no evidence of risk to patient safety from the products currently available in the US market,' Wockhardt said.

Wockhardt's shares plunged 6.52% to settle at Rs 1,243.35 at the Bombay Stock Exchange (BSE) on Tuesday. The scrip has touched an intra-day high of Rs 1,330.40 and low of Rs 1,181. 

Total volume of shares traded on the bourses today was higher by 796.67% to 9,615,977 compared with 22-day average volume of 1,072,412.

In the earlier session, the shares declined 18.31%, or Rs 298.05, at Rs 1,330.05.