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Wockhardt to exit US generics biz
July 12, 2025
|Business Standard
Mumbai-based pharma major Wockhardt, which is gearing up to launch its promising antibiotic candidate Zaynich soon, on Friday announced a shift in its United States operations.
The Indian pharma giant revealed that it has decided to exit the generics pharmaceutical segment in the country.
Wockhardt stock price went up 3.5 per cent on Friday to 1,756 apiece on the BSE. The announcement came after market hours.
According to a regulatory filing on the exchanges, the company has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its two Delaware-incorporated step-down subsidiaries—Morton Grove Pharmaceuticals and Wockhardt USA LLC.
The move comes even as the company's US generics business has been incurring losses over the past few years.
Wockhardt stated that its generics business had incurred a loss of nearly $8 million in 2024-25 (FY25) alone.
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