The move is aimed at realigning focus toward high-impact areas, including novel antibiotic drug discovery and biologics-led insulin solutions.
The decision comes after its US generics unit posted a $8 million loss in FY25. To facilitate the exit, Wockhardt filed for voluntary liquidation of its US subsidiaries, Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC, under Chapter 7 of the US Bankruptcy Code, effective 11 July 2025.
The company says this decision enables a clean and structured exit from a legacy segment and unlocks management bandwidth and capital for high-impact areas. The company remains committed to its pharmaceutical operations in India, the UK, Ireland, and other geographies where its businesses continue to deliver strong performance.
Wockhardt is a research based global pharmaceutical and biotech company. On a consolidated basis, Wockhardt reported net loss of Rs 25 crore in Q4 March 2025 as against net loss of Rs 169 crore in Q4 March 2024. Net sales rose 6.14% YoY to Rs 743 crore in Q4 March 2025.