Wockhardt: filed for voluntary liquidation in US code chapter 7

Wockhardt: filed for voluntary liquidation in US code chapter 7

In a significant strategic move, Wockhardt has announced it will exit its US generic pharmaceutical operations and focus on high-value, research-based areas such as new antibiotic drug discovery and biological insulin products. The company has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its wholly owned subsidiaries—Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC [1].

The decision follows years of financial strain in the US generics segment, which recorded a loss of nearly $8 million in FY 2025 alone. This bold move, effective July 11, 2025, will allow Wockhardt to reallocate resources and management bandwidth to its advanced product pipeline, particularly in antibiotics and insulin-based therapies [1].

Wockhardt's global operations, including those in India, the UK, Ireland, and other markets, will continue to perform strongly. The company remains committed to innovation, scientific excellence, and long-term value creation for patients, partners, and shareholders.

This strategic evolution reflects Wockhardt’s dedication to becoming a future-ready, innovation-driven pharmaceutical company, leveraging cutting-edge technology to address unmet medical needs [1].

References:
[1] https://www.businessupturn.com/business/corporates/wockhardt-exits-us-generics-business-to-focus-on-innovation-and-long-term-growth/