The Mumbai-based company is eyeing a US launch in FY27, marking a pivotal moment for Indian pharma innovation.
While announcing the pharma tariffs, Trump did not specify if the levies would apply over and above the existing tariffs as defined with trade agreements with EU and Japan, and the UK.
Habil Khorakiwala, Chairman of Wockhardt had previously said that once the trials are complete, the company will seek necessary regulatory approvals and hope to be in the market 'some time in 2026'.
Wockhardt chairman Habil Khorakiwala declined comment on reports that Serum is looking to buy a stake in Wockhardt
The manufacturing will be undertaken at CP Pharmaceuticals, a subsidiary of the company based in North Wales, Wockhardt said in a statement.
Wockhardt on Monday said the pay-off of its two-decade old research into antibiotics looks within striking distance, as its drug to treat superbugs is expected to hit the US market somewhere in 2020-21.
Wockhardt chief Habil Khorakiwala says that Indian generic company as a whole is a competitive industry in US and therefore there is no scope for government intervention there. Anmol Ganjoo of JM Financial says if drug prices come down then Indian pharma companies will benefit.
USFDA has already banned import of products from the facility into the US market since August 5, 2016.
The government had banned the FDC medicines including popular names like Corex cough syrup, Vicks and D-cold on March 10 terming them a 'risk' to humans.
In a blow to Wockhardt, the US FDA has issued a warning letter to company's US subsidiary CP Pharma.
Watch the interview of DG Shah, Habil Khorakiwala, KG Ananthakrishnan, Nandkumar Chodankar, SK Nanda, Sudhansh Pant to CNBC-TV18‘s Ekta Batra where they spoke about issues that standout in terms of India and America and the pharmaceutical sector.
The recently launched National Intellectual Property Rights (IPR) policy is a step in the right direction and towards creating an ecosystem for innovation, and it also brings clarity on India's position on IPR framework, he said, adding that a "not so friendly" clinical research environment prevails in the country.
In an interview with CNBC-TV18, Khorakiwala said Wockhardt will maintain a double digit growth target for FY17 and expects Indian operations to grow 15-20 percent while UK operations should grow within 15 percent.
Habil Khorakiwala, Founder, Chairman and Group CEO, Wockhardt says all facilities were inspected in the past six months and none of the US FDA observations are critical in nature, while adding that all these observations will be resolved in next 2-3 months
Habil Khorakiwala, Founder, Chairman and Group CEO, Wockhardt says US FDA granting a QIDP status to WCK 5222 drug makes it the only company globally to receive this status for its fourth drug.
The company has received final approval from the US Food and Drug Administration (USFDA) to market 5mg/5ml of Oxycodone HCl liquid, Wockhardt Ltd said in a filing to the BSE.
Pharma major Wockhardt on Friday said it is hopeful of early resolution of the issues with the US Food and Drug Administration (FDA), which has hit company's performance severely over the past few quarters.
A resolution of the lapses would allow Wockhardt to resume exports from its two main India plants to the United States, a market that previously accounted for half of the drugmaker's global sales.
Habil Khorakiwala said the US FDA has completed its inspection at the Waluj facility. The US FDA also visited the Chikalthana and Aurangabad plans, he said.
Habil Khorakiwala, chairman, Wockhardt Ltd addressed the media after the US health regulator said it did not find any issues with respect to data security and control measures at Chikalthana plant in a recent inspection.
Wockhardt has had a fair share of difficult times too. In 2008, the pharma company‘s net worth had eroded to near bankruptcy. Global financial crisis and major foreign exchange losses had hurt it as well. To tide over the crisis, the company decided to go in for CDR in 2009.
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As the drug regulators tighten their noose, Wockhardt stock has been volatile and investors are wary of the company's recovery.
Pharmaceutical firm Wockhardt Ltd on Friday said the UK Medicines and Healthcare Products Regulatory Agency (MHRA) has imposed an import alert on Wockhardt‘s export-oriented unit plant at Waluj in Maharashtra.
Shares of the Mumbai based Wockhardt today tanked by 20 percent to close at Rs 1,315.25. Wockhardt Chairman Habil Khorakiwala said import alert could impact the company's business by USD 100 million