Reducing risks of US business: Wockhardt chairman Khorakiwala

Three of its plants in India are under an import alert on quality compliance issues

Aneesh Phadnis  |  Mumbai 

Pharmaceutical major Wockhardt plans to produce or manufacture antibiotics and new drugs for the US market at third-party facilities and its new manufacturing plant in Dubai. This would help it reduce risk and tap opportunities worth billions of dollars, said Chairman Habil Khorakiwala.   The US Food and Drug Administration (FDA) has issued import alerts on three of its plants — Chikalthana, Waluj and Ankleshwar — citing quality-compliance issues. The US market accounted for more than half of its business four years back; now, it accounts for only 20%. The ...

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Reducing risks of US business: Wockhardt chairman Khorakiwala

Three of its plants in India are under an import alert on quality compliance issues

Wockhardt will increase its focus on developing novel antibiotics and will manufacture the new drugs for US market at third party facilities and company's new manufacturing plant in Dubai.These measures will help the drug maker to derisk its business and tap market opportunities worth billions of dollars, said Wockhardt chairperson Habil Khorakiwala.Wockhardt has been under fire from the US Food and Drug Administration and three of its plants in India (Chikalthana, Waluj and Ankleshwar) are under an import alert on quality compliance issues. The US market which accounted for over half of its business four years ago now only accounts for 20 per cent. The company's stock has slipped 27 per cent on a year on year basis following the setbacks.Khorakilwala, however, is confident that Wockhardt's regulatory troubles will end soon as it is implementing the remediation measures and has carried out automation of its plants.There is another positive development too. Earlier this month ... Pharmaceutical major Wockhardt plans to produce or manufacture antibiotics and new drugs for the US market at third-party facilities and its new manufacturing plant in Dubai. This would help it reduce risk and tap opportunities worth billions of dollars, said Chairman Habil Khorakiwala.   The US Food and Drug Administration (FDA) has issued import alerts on three of its plants — Chikalthana, Waluj and Ankleshwar — citing quality-compliance issues. The US market accounted for more than half of its business four years back; now, it accounts for only 20%. The ... image
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