<ul data-eligibleForWebStory="false"><li>Wockhardt has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its US step-down subsidiaries, Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC.</li><li>The decision to exit the US generics business, effective July 11, aims to facilitate a clean exit from a legacy segment, freeing up management bandwidth and capital for other strategic areas.</li><li>The company's future focus in the US will be on antibiotic drug discovery and its biologicals portfolio in insulin, where it has a strong pipeline, following a strategic review that revealed losses in the generics business.</li><li>Wockhardt Chairman stated that exiting the US generics business was driven by commercial reasons, aiming to shift focus towards innovation, scientific excellence, and sustainable profitability, while maintaining commitment to operations in India, the UK, Ireland, and other geographies.</li></ul>

Wockhardt to exit its US generics business

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