Stride to shut down sick manufacturing unit
Strides Arcolab a leading global manufacturers of pharmaceuticals, has announced that its loss making manufacturing operation for OTC and nutraceuticals for soft gelatine products in the U.S.A market has been shut down.The changing regulatory framework in the U.S.A for OTC and nutraceutical products does not make the plant viable anymore. The facility incurred an operating loss of approx. Rs 280 mio (US $7.10 mio) in the financial year 2007.The company continues to engage with interested parties on the disposal of the asset but the ceasing of the manufacturing operations will ensure the immediate reduction of losses in its operations in the USA.The soft gelatin business continues to be attractive for Strides and its Indian Plant is fully geared to meet enhanced demand that will be relocated to India.
Wockhardt to launch sertraline tablets in USA
Wockhardt's Sertraline tablets will be launched in the US market within the next few weeks. According to IMS, the total market for Sertraline tablets in the US is $1.1 billion equivalent to over 1.4 billion tablets. Wockhardt has several products including injectables in the CNS segment.In the prescription generic pharmaceutical market, the company has been consistently growing market shares for all its products. Wockhardt markets over fifty products in the US.The Sertraline tablets are manufactured at the US FDA certified formulation plant at Waluj, Maharashtra. The product was developed in-house. Wockhardt is one of the few companies with end-to-end integrated capabilities for its products, starting with manufacture of the oral and sterile API's, the dose forms and marketing through the wholly-owned subsidiary in the US, enabling the company to capture maximum value.
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