Drug-maker Wockhardt Ltd expects to soon resume supplies to the UK from its Chikalthana plant.
Speaking to analysts, Wockhardt Managing Director Murtaza Khorakiwala said the plant was in complete compliance with UK regulatory requirements and expected to resume supplies in the next quarter of the current year.
The plant had run into rough weather with the UK regulator in 2013.
Giving details on the regulatory inspections at the company’s different plants, he said the United States Food and Drug Administration had inspected the Himachal Pradesh facility in July, but there were no adverse regulatory observations.
On the existing ban of products from units at Chikalthana and Waluj, he said remediation efforts were under way.
Completion reportWockhardt Chairman Habil Khorakiwala added that the company expected to file a completion report in the next couple of weeks to the US regulator, on a follow-up observation involving Chikalthana plant.
Looking ahead, he said that while the India market would see robust growth, the UK too, would do well as it gets back to normalcy.
Wockhardt posted a net profit after taxes, minority interest and share of profit of associates of ₹114 crore for the quarter ended June 30, against ₹20 crore for the quarter ended June 30, 2014.
Total income increased from ₹1,005 crore in the same period last year to ₹1,179 crore in the period under review.
The quarter under review saw Wockahrdt receive a breakthrough status on its third new chemical entity in the anti-infective segment.
The company also received approvals in the quarter to market 5mg/5ml of Oxycodone HCL liquid — used in management of pain, especially in opioid tolerant patients.
The product would be made at its Morton Grove plant, the management said.
The company’s research spend in the quarter under review stood at ₹152 crore, or 13 per cent of its revenues.