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The company had in May announced that the US Food and Drug Administration had issued an import alert on its Waluj facility, which makes injectables and solid dosages.
It is confidential for Bajaj, Nissan and Renault and so, I will not speak much about it." The total cost of this project is Rs 2,000 crore (Rs 20 billion).
According to fire department officials, the blaze erupted around 02:15 am at the factory in Waluj MIDC area.
After recovering from issues such as defaults on foreign currency convertible bonds and piling debts, pharmaceutical major Wockhardt has been on the slow lane through the last six months, following warnings from global regulators such as the US Food and Drug Administration (FDA) and the UK Medicines and Healthcare Products Regulatory Agency.
State Health Minister Rajesh Tope ordered a probe.
According to the chairman, there will be an annual loss of Rs 100 crore due to the MHRA alert on Waluj plant
Wockhardt is recalling select drugs in the US, which were under import restrictions from the USFDA.
Ankleshwar plant is the third such facility to face action
Its Waluj manufacturing facility in Maharashtra failed to meet the good manufacturing norms prescribed by the UK drug regulator.
If the company manages to get a go-ahead from the regulator for this plant, it might result in resumption of supplies of several of their products, barred from the US last year.
Wockhardt might be headed for another crisis, as it has come under the scanner of US health regulator.
Wockhardt MD Murtaza Khorakiwala said his firm had responded to the FDA's observations but declined to give details.
The Chakan plant, which produces the KTM and Bajaj brands, is at present operating with manpower little more than half its total strength.
Shiv Sena Executive President Uddhav Thackeray on Tuesday appealed to the voters not to fell prey to the assurances of Maharashtra's Congress-Nationalist Congress Party government as it has failed on all fronts, including curbing the rising prices of commodities.
Private lenders were among the top losers along with RIL.
The company has received a communication from the Medicines and Healthcare Products Regulatory Agency, United Kingdom, whereby the agency has decided to withdraw the previously issued GMP Certificate to the company's manufacturing facility situated at Kadaiya, Nani Daman, Wockhardt said in a filing to the Bombay Stock Exchange.
The rap from both the US and UK drug regulators, including the latest one from the latter, has hit the scrip.
The company had posted a consolidated net profit of Rs 323.31 crore (Rs 3.23 billion) in the same period last fiscal, Wockhardt Ltd said in a filing to the Bombay Stock Exchange.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
The FDA had imposed a ban on the company's Waluj plant in May.
'We haven't flattened the infection curve, we may have merely smoothened it temporarily.'
The news that exports to the US will not restart before next year as well as the September quarter performance are sentiment dampeners.
Gains were led by Tata Motors amid robust sales in June along with select financials.
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
Last month, the US Food and Drugs Administration had placed Wockhardt's facilities in Waluj near Aurangabad on import alert, barring supply of various products from these facilities to the US.
Since 2013, the FDA has banned around 30 Indian drug manufacturing units for various violations
Markets end in green with auto, banks on a steady climb.
DCGI, health ministry initiate dialogues with foreign regulators, try to understand global best practices
'It is a brand that has done so well till recently.'
Ranbaxy, which is 63.5 per cent-owned by Japan's Daiichi Sankyo Co and gets more than 40 per cent of its sales from the United States, did not immediately respond to a request on Wednesday for comment on the FDA observations.
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