Wockhardt exits US generics business, files for liquidation of subsidiaries

The decision follows years of financial losses in the US generics business, including loss of nearly $8 million in FY 2025, Wockhardt said in a BSE filing

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.

 

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.

 

Wockhardt Q4 results

 

Pharmaceutical company Wockhardt posted a consolidated net loss of ₹45 crore for the quarter ended March 31, 2025, narrowing from a loss of ₹177 crore in the same period last year.

 

Revenue from operations increased to ₹743 crore in the fourth quarter, up from ₹700 crore in the corresponding quarter of the previous financial year.

 

Shares of Wockhardt closed at ₹1,756.75 apiece on the BSE on Friday.