ADVERTISEMENT

Wockhardt Ties Up With Various Partners To Roll Out Products In U.S. Markets

Wockhardt engaged multiple US Food and Drug Administration (USFDA) approved manufacturing partners in the US market

<div class="paragraphs"><p>(Photo by form <strong><a href="https://pxhere.com/en/photo/1330580">PxHere</a>)</strong></p></div>
(Photo by form PxHere)

Drug firm Wockhardt on Saturday said it has tied up with various partners to roll out products in the U.S. market with its Illinois-based manufacturing plant all set to relieve all workers in a phased manner as part of business restructuring in the country.

The Mumbai-based company said it has engaged multiple US Food and Drug Administration (USFDA) approved manufacturing partners, after thorough due diligence and inspection of their facilities, to manufacture various products for sale in the U.S./North America.

'The company is relieving all its staff who were directly engaged by our U.S. subsidiary in connection with the manufacturing process in a phased manner and in full compliance with the applicable local laws,' Wockhardt said in a regulatory filing.

This will help avoid the manufacturing and quality management cost resulting in significant savings in operating and overhead cost while allowing the management to completely focus on penetrating and expanding the market share of its products in U.S./ North America, it added.

The drug maker also said that it has entered into a consent decree with the U.S. Department of Justice (DoJ) regarding the Illinois-based facility.

The plant is under the USFDA lens for various manufacturing lapses.

The signing of the consent decree resolves and settles all matters with the USFDA, whereby the company shall stop all manufacturing activities at the plant for the present, Wockhardt said.

There is no financial compensation in the consent decree, it added.