Pharma major Wockhardt is reviewing its Chinese operations in the light of certain changes in regulations that have been effected by the Chinese government.
The review includes a product reshuffle and investing in manufacturing as the Chinese government has stopped renewing licenses of formulations for the sole purpose of marketing without manufacture.
The company operates in China through a 70:30 joint venture Weihai Wockhardt Pharmaceutical Company with a local partner. Wockhardt holds the larger stake.
When contacted Wockhardt chairman and managing director Habil F Khorakiwala told Business Standard, "We are reviewing our Chinese operations. We will have to construct a manufacturing facility. We already have land there. The Chinese government has stopped renewing licenses (to market products)." Wockhardt was exporting formulations to China in therapeutic segments in which it operates domestically.
Khorakiwala also said the product reshuffle would include introduction of two or three `unique' products and construction of the facility to suit the manufacture of these products.
