Wockhardt Grappling with FDA Issues

Share

India’s LiveMint online media reports that Wockhardt posted a bigger loss in the first quarter of this year due to expenses for remedial measures at plants facing regulatory issues. “Wockhardt has been grappling with quality control issues raised by the U.S. FDA for the past four years,” the report says. The company’s formulations units at Chikalthana and Waluj have been under an FDA import alert since 2013 for manufacturing standards violations. And a bulk drug plant at Ankleswahr was placed on import alert in 2016.

The company’s U.S. step-down unit, Morton Grove Pharmaceuticals, was issued an FDA Warning Letter in March and a UK indirect subsidiary received a Warning Letter for its Wrexham facility.

“While clear focus on cost containments and rationalization gave positive impact, ongoing expenses on remedial measures for U.S. FDA-related issues impacted profitability,” Workhardt said. “In the U.S., genericization of some of the products of the company also impacted business.”

Read more