Wockhardt's Q2 Profit Dives, Hit by U.S. and UK Export Curbs
Published: Oct 25, 2013
Wockhardt Ltd (WCKH.NS) posted its smallest profit in six quarters, hurt by curbs on shipping medicines to the United States and Britain from one of its factories after their health regulators identified deficiencies at the plant. Indian medicine makers, which produce nearly 40 percent of generic and over-the-counter drugs for the United States, have recently been battered by a rash of regulatory rebukes including a record fine for Ranbaxy Laboratories Ltd (RANB.NS).
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