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Earnings drop 70% as three India plants face export restrictions
October 25, 2013
By: Tim Wright
Editor-in-Chief, Contract Pharma
Wockhardt 2Q Revenues: 12.0 billion rupees (-11%) 2Q Earnings: 1.4 billion rupees (-70%) YTD Revenues: 26.0 billion rupees (-5%) YTD Earnings: 4.6 billion rupees (-44%) Comments: Results were impacted by restrictions on shipping medicines to the U.S. and UK from one of its factories after health regulators identified deficiencies at the plant. The UK’s MHRA recently added restrictions on exports from two other factories. According to a Wockhardt statement, the U.S. import alert, reported i...
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