Wockhardt sets up its first manufacturing facility in Middle East

Drug firm Wockhardt has set up its first facility in the Middle East in Dubai for manufacture of new chemical entities (NCEs) to cater to global markets. The facility is spread over 10,000 sq meters, self-sufficient for handling warehousing, manufacturing operations, product testing and product stability, Wockhardt said in a statement. "With the new facility in the Middle East, we aim to focus on our commitment to developing NCEs to fight the health issues," Wockhardt Founder Chairman Habil Khorakiwala said. Wockhardt is poised for a quantum leap into the future, he added. The company however did not provide any details about the investments it has made for setting up the facility. "With Wockhardt's commitment to research and development, we have 5 breakthrough NCEs that have been accorded Qualified Infectious Disease Product (QIDP) status by USFDA," Khorakiwala said. The five novel antibiotic drugs are in advanced stage of global clinical development, the company said. "Wockhardt has dedicated significant resources for the discovery and development of novel antibiotics," Wockhardt MD Murtaza Khorakiwala said. Shares of Wockhardt were today trading at Rs 594.50 per scrip on BSE, up 2.74 per cent from the previous close.

from The Economic Times https://ift.tt/2K6zyje