Wockhardt target for fresh FDA concerns over US unit

Indian drugmaker Wockhardt (BSE: WOCK) is facing fresh concerns from the US Food and Drug Administration over processes at its US production unit.

Wockhardt’s shares fell 4.6% after hitting a low of 640.30 rupees on Tuesday. Wockhardt managing director Murtaza Khorakiwala said the company had responded to the FDA’s observations but declined to give details, reported Reuters India. The concerns mean that the FDA could ban production at Wockhardt’s unit in Chicago, which provides more than 50% of its sales in the USA.

Mr Khorakiwala told Reuters: “It's difficult to say what kind of position the FDA will take but according to us the inspection was not a very negative inspection.”