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Wockhardt Eyes US Biosimilars In Wake Of Reddy’s Deal

Divestment Will Provide Liquidity To Bolster International Operations

Executive Summary

India’s Wockhardt says that developing biosimilars for the US will be one of its strategic priorities after the divestment of parts of its branded generics business to Dr Reddy’s unlocks “adequate liquidity for robust growth in international operations.” The firm remains upbeat about its future prospects despite its annual results revealing a widespread sales slump, albeit coupled with a recovery in profitability.

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UK Vaccines Business Pushes Wockhardt To Sales Growth

Having a year ago radically altered its business by offloading operations in India to rival Dr Reddy’s, India’s Wockhardt saw another burst of sales in the UK, amid its tie-up with AstraZeneca for the COVID-19 vaccine.

Dr Reddy’s Revises Wockhardt Terms In Light Of COVID-19 Slump

Dr Reddy’s has completed its deal for Wockhardt’s branded generics business. However, the two companies have renegotiated the financial terms of the deal following the impact of the COVID-19 pandemic on Wockhardt’s business.

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