Reducing risks of US business: Wockhardt chairman Khorakiwala

Three of its plants in India are under an import alert on quality compliance issues

Pharmaceutical major Wockhardt plans to produce or manufacture antibiotics and new drugs for the US market at third-party facilities and its new manufacturing plant in Dubai. This would help it reduce risk and tap opportunities worth billions of dollars, said Chairman Habil Khorakiwala.
 

The US Food and Drug Administration (FDA) has issued import alerts on three of its plants — Chikalthana, Waluj and Ankleshwar — citing quality-compliance issues. The US market accounted for more than half of its business four years back; now, it accounts for only 20%. The company’s stock had slipped 27% year on year.

Khorakiwala, however, is