Wockhardt USA

Overview

Wockhardt USA is a subsidiary of the global pharmaceutical and biotechnology company Wockhardt Limited, based in Parsippany, New Jersey. Founded in 2004, the company primarily focuses on manufacturing generic medications, including oral solids, liquids, and injectables. Wockhardt Limited was founded by Habil Khorakiwala and is headquartered in Mumbai, India. The company has produced over 110 Abbreviated New Drug Applications (ANDAs) across its portfolio.

Recent Developments

November 2024: Wockhardt's new antibiotic, Miqnaf™, received a positive recommendation from the SEC of CDSCO, leading to a significant 384% surge in the company's stock price over the year.
August 2024: Despite previous financial difficulties, Wockhardt experienced a boost in investor confidence, reflected in a notable rise in its stock value.
February 2024: In an effort to consolidate operations, Wockhardt decided to close its manufacturing facility in Morton Grove, Illinois, to reduce annual expenses by $12 million.
December 2023: Wockhardt successfully completed late-stage Phase III trials for nafithromycin, an antibiotic aimed at pneumonia treatment, with plans to launch in India by mid-2024 and globally in 2025.

Attribute	Information
Founding Date	2004
Headquarters	Parsippany, New Jersey, United States
Founders	Habil Khorakiwala
Revenue	N/A
Profits	N/A
Key Investors	N/A
Industry	Pharmaceuticals, Biotechnology
Number of Employees	N/A

Early History

Wockhardt Limited, the parent company of Wockhardt USA, began its journey in India in 1966 under the guidance of its founder, Habil Khorakiwala. Initially focused on manufacturing bulk drugs, the company soon expanded into the formulation sector and established a presence in international markets. Wockhardt USA was established in 2004 to cater to the American market, leveraging the company's existing expertise in generics. In 2007, the acquisition of Morton Grove Pharmaceuticals significantly bolstered Wockhardt's US operations.

Company Profile and Achievements

Wockhardt USA has developed a strong presence in the US pharmaceutical market, offering a wide range of generic formulations. The company's business model focuses on leveraging its research and development capabilities to produce high-quality, cost-effective medications. Major achievements include:

Over 110 ANDA Approvals: Since its inception, the company has received FDA approvals for a substantial number of generic products.
Expansion Through Acquisition: The acquisition of Morton Grove Pharmaceuticals in 2007 allowed Wockhardt to expand its product line significantly in the US market.
Innovative Antibiotic Research: Wockhardt has been at the forefront of antibiotic research, notably receiving Qualified Infectious Disease Product (QIDP) status for multiple drugs from the FDA.

Current Operations and Market Position

Wockhardt USA continues to operate as a significant player in the American generic pharmaceuticals market. The company's focus on high-quality, affordable medications has allowed it to maintain a competitive edge. Wockhardt's strategic initiatives include the development of novel antibiotics, which are crucial for addressing global health challenges. Recent stock performance indicates a resurgence in market confidence, partly due to successful clinical trials and favorable regulatory reviews.

Conclusion

Wockhardt USA plays a crucial role in the global operations of Wockhardt Limited, emphasizing the production and development of generic pharmaceuticals and innovative antibiotics. Its strategic focus on research and development, combined with a robust product portfolio, positions the company as a leader in the industry. As Wockhardt continues to advance its antibiotic pipeline and optimize its manufacturing operations, it remains well-positioned for future growth and impact within the pharmaceutical sector.