Wockhardt has announced a strategic shift in its operations in the United States, deciding to exit the generics pharmaceutical segment in the country. The company has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its two Delaware-incorporated step-down subsidiaries—Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC.
This move marks a broader strategic realignment, with Wockhardt aiming to focus on its innovation-driven portfolio, particularly in new antibiotic drug discovery and insulin-based biologicals. The company stated that the decision follows years of losses in the US generics segment, with losses nearing $8 million in FY25 alone.
Wockhardt USA LLC contributed approximately 3% to the…