India’s Wockhardt profit freefalls as FDA bans devastate US sales

Posted On 05 Nov 2014
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Wockhardt

How bad can an FDA ban on plants be when the U.S. is your primary market? Really bad, India’s Wockhardt found out this quarter, with its profit dropping more than $22 million, a 97% freefall. It was the second quarter in which its profits were off more than 90%. The FDA last year banned two of Wockhardt’s manufacturing facilities in India, saying both had been manipulating testing data and passing for sale drugs that were not up to specs. And this is not the only Indian drugmaker to face the hard financial realities of getting crosswise with the FDA over quality issues

Read the source article at Pharma News

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