USFDA warning not affecting biz: Wockhardt

Drug firm Wockhardt today said its business is not affected following a warning letter by the US health regulator to its UK-based arm CP Pharmaceuticals and the company is currently working on to resolve the issue.

US Food and Drug Administration (USFDA) had issued a warning letter to CP Pharmaceuticals on October 29, 2010 for alleged violation of current good manufacturing practice (CGMP) regulations at its Wrexham facility.

"It does not affect the business and everything is going on as usual. We are currently resolving the issue," Wockhardt Chairman Habil Khorakiwala told PTI.

He, however, did not share details of the steps that the company is undertaking to sort out the issue.

In its letter, USFDA had said: "Your firm has not established separate or defined areas or such other control systems to prevent contamination during aseptic processing."

Wockhardt had acquired CP Pharmaceuticals in 2003 for $17.9 million.

Speaking about the company's future plans, Khorakiwala said that the company is focusing on the US market for future growth.

"India is doing well and growing at 20 per cent, but our focus remains on the US market for future growth," he added.

Net sales of the company in the second quarter stood at Rs 940.07 crore as against Rs 922.69 crore in the same period last year.

Shares of Wockhardt were today trading at Rs 386 on the Bombay Stock Exchange, down 3.17 per cent from its previous close.