Wockhardt may face 1 million euros hit due to Kadaiya unit lapses

Nov 07 2013, 12:44 IST
Comments 0
Shares of Wockhardt on Thursday closed at Rs 470.45 on the BSE, up 5 percent from their previous close. (Reuters) Shares of Wockhardt on Thursday closed at Rs 470.45 on the BSE, up 5 percent from their previous close. (Reuters)
SummaryUK health regulator had taken action against the company's Chikalthana facility in Maharashtra.

Drug major Wockhardt on Thursday said it will take a revenue hit of nearly one million pounds due to import restrictions imposed by the UK health regulator on medicines made at its Kadaiya facility in Nani Daman.

The company, however, said Medicine and Healthcare Products Regulatory Agency, UK, (UKMHRA) has eased the restrictions to an extent allowing it to supply most of the products manufactured at the said facility to the UK.

Wockhardt has received a communication from UKMHRA whereby they have allowed manufacturing and supply most of the products manufactured at the said facility and assessed to be critical to public health, the company said in a filing to the BSE.

"As a result the net impact on the annualised consolidated revenue is expected to be less than £1 million, out of the total annual consolidated revenue of approximately £18 million, from the said facility," the company said.

Last month, UKMHRA had imposed restrictions on import of medicines made at the Mumbai-based firm's unit at Kadaiya for violation of norms, the second Wockhardt plant to face such action in as many weeks.

Earlier, the UK health regulator had taken action against the company's Chikalthana facility in Maharashtra, from where good manufacturing certification was withdrawn last month, and the export-oriented plant at Waluj which came under an import alert in July this year. Shares of Wockhardt on Thursday closed at Rs 470.45 on the BSE, up 5 percent from their previous close.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...