Wockhardt looks for greener pastures as US FDA issues linger

Reported a Rs 196-crore net loss for 2016-17 against a profit of Rs 251 crore in the previous year

Wockhardt chairman Habil Khorakiwala is once again looking for greener pastures. Under pressure from the US Food and Drug Administration (FDA), the pharma company has started exporting to Malaysia, Sri Lanka, Australia, Egypt, New Zealand and other countries which it classifies as rest-of-world (ROW). 

In 2005, Wockhardt started work on expanding its business across continents. Unlike most of its domestic peers, it decided to concentrate on Europe. But Khorakiwala soon realised generics lacked growth opportunities in most other European markets barring the UK and Ireland. Wockhardt then shifted its focus to the US and aggressively funded its expansion drive. Even