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Business Standard
a day ago
- Business
- Business Standard
Wockhardt climbs on exiting US generics to refocus on innovation
Wockhardt gained 3.54% to Rs 1,818.90 after announcing a strategic exit from the US generic pharmaceuticals business. The move is aimed at realigning focus toward high-impact areas, including novel antibiotic drug discovery and biologics-led insulin solutions. The decision comes after its US generics unit posted a $8 million loss in FY25. To facilitate the exit, Wockhardt filed for voluntary liquidation of its US subsidiaries, Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC, under Chapter 7 of the US Bankruptcy Code, effective 11 July 2025. The company says this decision enables a clean and structured exit from a legacy segment and unlocks management bandwidth and capital for high-impact areas. The company remains committed to its pharmaceutical operations in India, the UK, Ireland, and other geographies where its businesses continue to deliver strong performance. Wockhardt is a research based global pharmaceutical and biotech company. On a consolidated basis, Wockhardt reported net loss of Rs 25 crore in Q4 March 2025 as against net loss of Rs 169 crore in Q4 March 2024. Net sales rose 6.14% YoY to Rs 743 crore in Q4 March 2025.
Business Upturn
2 days ago
- Business
- Business Upturn
Wockhardt shares jump 4% after exiting loss-making US generics business
By Aman Shukla Published on July 14, 2025, 12:52 IST Wockhardt shares jumped 4% after the company announced a major strategic shift in its US operations. The pharma firm is exiting the US generic drug market to focus on high-value, research-driven areas such as antibiotic drug discovery and biological insulin products. As part of the move, Wockhardt has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its subsidiaries—Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC. The decision comes after the US generics business posted nearly $8 million in losses for FY25. Effective July 11, 2025, this exit allows Wockhardt to reallocate resources to its advanced pipeline, especially in antibiotics and diabetes care. The company will continue operations in India, the UK, Ireland, and other key global markets, reinforcing its commitment to innovation and sustainable growth. Wockhardt shares opened at ₹1,780.00 and touched an intraday high of ₹1,854.00 before slipping to a low of ₹1,739.20. The stock is trading close to its 52-week high of ₹1,868.80, while the 52-week low stands at ₹750.00. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
2 days ago
- Business
- Business Standard
Wockhardt shares rise 2% after exiting US generics business
Shares of Wockhardt rose over 2 per cent on Monday after it decided to exit the US generic pharmaceutical segment after incurring consistent losses to focus on its innovative portfolio. The pharmaceutical company's stock rose as much as 2.12 per cent during the day to ₹1,794 per share. The stock pared gains to trade 1.5 per cent higher at ₹1,783 apiece, compared to a 0.16 per cent decline in Nifty 50 as of 10:30 AM. Shares of the company gained for the second straight day. The counter has risen 25 per cent this year, compared to a 6 per cent advance in the benchmark Nifty 50. Wockhardt has a total market capitalisation of ₹29,000.06 crore, according to BSE data. Track LIVE Stock Market Updates Here Wockhardt exits US generics business Wockhardt Ltd. announced a strategic overhaul of its US operations, exiting the generic pharmaceuticals segment to concentrate on its innovation-led portfolio, according to an exchange filing. The move aligns with the company's vision to build a differentiated pharmaceutical business centred around novel antibiotics and biologicals. As part of this transition, Wockhardt has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its wholly owned subsidiaries, Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC, both incorporated in Delaware. The decision came into effect on July 11, 2025. The company said its US generics business had been incurring consistent losses, amounting to nearly $8 million in the financial year 2025 alone. A strategic review concluded that continuing in this segment would detract from Wockhardt's focus on innovation. Going forward, the company will sharpen its focus on two key areas: new antibiotic drug discovery, where it claims a global leadership position with a strong pipeline, and a biologicals portfolio in insulin, aimed at addressing critical unmet needs in diabetes care. Wockhardt Q4 results Wockhardt reported a consolidated net loss of ₹45 crore in the fourth quarter ended March 31, 2025. The drug maker had reported a net loss of Rs 177 crore in the January-March quarter of FY24. Revenue from operations rose to ₹743 crore in the fourth quarter as compared to ₹700 crore in the year-ago period. For FY25, the company said its net loss stood at ₹57 crore as compared to ₹472 crore in the year-ago period. Revenue increased to ₹3,012 crore as compared to ₹2,798 crore in the 2023-24 fiscal.
United News of India
4 days ago
- Business
- United News of India
Wockhardt announces exit from generics drugs Business in US
Mumbai, July 12 (UNI) Pharma company Wockhardt stated in a regulatory filing that it will exit from the US generic drugs market. The move has come after years of sustained losses in the segment, with the company's generics business posting a loss of approximately $8 million in FY25. Wockhardt stated in a regulatory filing on Friday that it has initiated voluntary liquidation proceedings for its two US subsidiaries, namely Morton Grove Pharmaceuticals Inc and Wockhardt USA LLC, under Chapter 7 of the US Bankruptcy Code. Both the companies incorporated in Delaware, United States, are wholly owned by Wockhardt Bio AG. Wockhardt's statement emphasised that the exit from the US generics sector will enhance its ability to deliver sustainable profitability through innovation and scientific leadership. The company reiterated its commitment to pharmaceutical operations in India, the UK, Ireland, and other international markets, where its businesses continue to perform profitably. The decision is part of Wockhardt's broader plan to streamline operations and concentrate on its high-value, innovation-driven product lines. By exiting the US generics market, the company aims to redirect capital and executive focus toward two key growth areas of novel antibiotics and its biologicals portfolio, particularly in insulin-based therapies. Earlier, Wockhardt's founder chairman Habil Khorakiwala had hinted about the move, saying that the company would move away from commoditised generics in the US and concentrate on launching innovative drugs developed in Europe at FDA-approved facilities. This approach aligns with Wockhardt's long-term goal of transforming into a research-led pharmaceutical firm with a global footprint, he had stated. UNI XC BM
Time of India
4 days ago
- Business
- Time of India
Wockhardt exits US generics biz to focus on drug discovery
Mumbai: Wockhardt will exit its loss-making generics business in the US as part of its strategy to enhance focus on innovation with new antibiotic drug discovery and biologics portfolio in insulin. ET was the first to report on July 1 the Mumbai-based drug maker's shift in strategy to become an innovation-driven company and its plans to exit the US generics segment. At the time, chairman Habil Khorakiwala said Wockhardt does not see itself as a generics company. "In fact, in the US, we are exiting will be focused on the biological area and NCE ( new chemical entities ) and strictly on antibiotics," he told ET. "We have revisited what are the strengths and what are the opportunities-one obviously is our new drug discovery-in India and worldwide," said Khorakiwala. He also stressed on the company's focus on biologics portfolio in insulin and GLP1 as another key growth driver. "As part of this transition, the company has taken the decision to exit the US generic pharmaceutical segment, paving the way for deeper focus and investment in its advanced product portfolio," the company said in a regulatory filing on Friday. Wockhardt's US generics business has been incurring losses for the past several years. In FY25, the generics business incurred a loss of nearly $8 million. Wockhardt has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its US step down subsidiaries, Morton Grove Pharmaceuticals and Wockhardt USA, incorporated in Delaware and wholly-owned subsidiaries of Wockhardt Bio. The decision, effective July 11, enables clean and structured exit from a legacy segment and unlocks management bandwidth and capital for high-impact areas, according to the company. "Continuing in this segment would detract from its broader innovation agenda," it said. Going forward, Wockhardt will focus its efforts on new antibiotic drug discovery where it has established a leadership position globally, with a strong pipeline of differentiated assets while also bolstering its biologicals portfolio in insulin. "By stepping away from the commoditised generics space, Wockhardt is positioning itself to create long-term value through innovation, scientific excellence, and sustainable profitability. The company remains committed to its pharmaceutical operations in India, the UK, Ireland, and other geographies where its businesses continue to deliver strong performance," the company noted. ET had reported that Wockhardt is working on ambitious plans for its "miracle drug" Zaynich , a combination of zidebactam and cefepime that was found to be effective during clinical trials to fight superbugs or bacterial infections that show resistance to a range of existing antibiotic treatments.
