Wockhardt shares jumped 4% after the company announced a major strategic shift in its US operations. The pharma firm is exiting the US generic drug market to focus on high-value, research-driven areas such as antibiotic drug discovery and biological insulin products.
As part of the move, Wockhardt has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its subsidiaries—Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC. The decision comes after the US generics business posted nearly $8 million in losses for FY25.
Effective July 11, 2025, this exit allows Wockhardt to reallocate resources to its advanced pipeline, especially in antibiotics and diabetes care. The company will continue operations in India, the UK, Ireland, and other key global markets, reinforcing its commitment to innovation and sustainable growth.
Wockhardt shares opened at ₹1,780.00 and touched an intraday high of ₹1,854.00 before slipping to a low of ₹1,739.20. The stock is trading close to its 52-week high of ₹1,868.80, while the 52-week low stands at ₹750.00.
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