Latest news with #WockhardtLtd
News18
5 days ago
- Business
- News18
Wockhardt loss widens to Rs 108 cr in Q1
Last Updated: New Delhi, Aug 8 (PTI) Pharmaceuticals firm Wockhardt Ltd on Friday reported a widening of consolidated loss after tax at Rs 108 crore in the June quarter, hit by impairment due to liquidation of subsidiaries in the US after exiting the generics business in the country. The company had posted a consolidated loss after tax of Rs 16 crore in the corresponding quarter last fiscal, Wockhardt Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter was marginally down at Rs 738 crore against Rs 739 crore in the year-ago period, it added. Total expenses in the quarter under review were lower at Rs 770 crore compared to Rs 775 crore in the same period a year ago, the company said. Wockhardt said its management has assessed impairment at CGU (cash generating unit) level, and the related goodwill in the books of account of Rs 97 crore has been impaired as on June 30, 2025, which has been disclosed under exceptional items. view comments First Published: August 08, 2025, 15:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
14-07-2025
- 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.
Indian Express
11-07-2025
- Business
- Indian Express
Wockhardt to exit US generic pharma segment, shut down 2 subsidiaries
Amid the ongoing trade tariff related concerns, Indian pharmaceutical firm Wockhardt Ltd on Friday said it has decided to exit the US generic pharmaceutical segment, paving the way for deeper focus and investment in its advanced product portfolio. Over the past several years, Wockhardt's US generics business has been incurring losses, it said. In FY 2025 alone, the generics business incurred a loss of nearly US $ 8 million, it said. 'Following a comprehensive strategic review, the company has concluded that continuing in this segment would detract from its broader innovation agenda,' the company said in an exchange filing. Accordingly, Wockhardt has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its US step-down subsidiaries, Morton Grove Pharmaceuticals Inc and Wockhardt USA LLC, both incorporated in Delaware which are wholly owned subsidiaries of Wockhardt Bio AG. This decision, effective July 11, 2025, enables a clean and structured exit from a legacy segment and unlocks management bandwidth and capital for high-impact areas, the company said. Wockhardt is undertaking significant strategic realignment of its US business in line with its long-term vision to build a differentiated, innovation-driven pharmaceutical enterprise, it said. This strategic reset aligns with Wockhardt's sharpened focus on building a future-ready business anchored in two key pillars: New antibiotic drug discovery – where Wockhardt has established a leadership position globally, with a strong pipeline of differentiated assets; Biologicals portfolio in insulin – leveraging advanced technologies to address critical unmet needs in diabetes care. 'By stepping away from the commoditized generics space, Wockhardt is positioning itself to create long-term value through innovation, scientific excellence, and sustainable profitability,' it said. 'The company remains committed to its pharmaceutical operations in India, the UK, Ireland, and other geographies where its businesses continue to deliver strong performance,' it said. This strategic evolution marks a decisive move toward a more focused, resilient, and innovation-led Wockhardt, better equipped to deliver value to patients, partners, and shareholders in the years ahead, it said.
Business Standard
11-07-2025
- Business
- Business Standard
Wockhardt exits US generic pharma business, files for liquidation of subsidiaries
Mumbai-headquartered pharmaceutical firm Wockhardt Ltd on Friday said that it has taken the decision to exit the United States (US) generic pharmaceutical segment as part of a broader realignment of its global strategy. The company stated that the move is in line with its 'long-term vision to build a differentiated, innovation-driven pharmaceutical enterprise.' The decision follows years of financial losses in the US generics business, including loss of nearly $8 million in FY 2025, it said in a BSE filing. The company further added that it has filed for voluntary liquidation under the US Bankruptcy Code for its wholly owned US subsidiaries, Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC. The liquidation is effective from July 11. ALSO READ: Wockhardt's novel antibiotic Zaynich eyes $9 billion global market According to the company, this step "enables a clean and structured exit from a legacy segment and unlocks management bandwidth and capital for high-impact areas." The company said the strategic reset aligns with its focus on two main areas: new antibiotic drug discovery and its biologicals portfolio in insulin. However, the firm will continue its pharmaceutical operations in India, the United Kingdom, Ireland, and other international markets, as these operations 'continue to deliver strong performance.' Wockhardt is a research-based global pharmaceutical and biotech company with operations across multiple countries. It employs approximately 2,900 people of 27 nationalities and has manufacturing and research facilities in India, the UK, and Ireland.
Mint
11-07-2025
- Business
- Mint
Wockhardt exits its US generics business
Wockhardt Ltd is exiting its loss-making US generics business, as it focuses on its new antibiotics drug discovery and insulin portfolios. The drugmaker said on Friday that it has made a Chapter 7 filing for voluntary liquidation of its US subsidiaries Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC. The business has been incurring losses over the past several years, clocking nearly $8 million losses in FY25. In an interview with Mint in April, Wockhardt chairman Habil Khorakiwala had said the company is planning to exit the US generics segment, in a move to 'derisk the organization fundamentally'. The company will continue to run its pharmaceutical operations in India, the UK, Ireland, and other geographies. The US market has become 'very uncertain', Khorakiwala had said in the interview, adding the company's focus would be on developing its antibiotics pipeline for the global market, while its generics pharma business will focus on the rest of its existing markets. Exiting the US generics market 'will improve profits because we are losing money in the US," he said. Wockhardt is increasing focus on its new drug discovery programme, with a pipeline of novel antibiotics for drug resistant bacterial infections, and new biosimilar drugs to treat diabetes. It has a pipeline of six novel antibiotics targeting bacterial drug resistance. Two of these, Emrok and Miqnaf, have already been launched in India. Its third drug candidate, Zaynich, has completed global phase 3 trials with promising results. Wockhardt has filed for approval with the Indian drug regulator, and is expecting approval in the second half of FY26. It plans to file with the US FDA in Q2 FY26, with a potential launch in FY27, it said in an investor meeting in June. Zaynich could potentially change the company's fortunes, with an addressable patient pool of two million. The addressable market potential for Zaynich is $7 billion in the US and Europe, the company said. Wockhardt is also looking at building its insulin business more robustly for India and emerging markets. The company is doubling its capacity in the next three years to tap the growing demand in the space.
