Mumbai, July 12 -- 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 p...