Drugmaker Wockhardt on Friday reported a net loss of Rs 237 crore in Q4FY23 due to exceptional items related to the shutdown of the manufacturing plant in the US and provisioning related to a settlement with the State of Texas in a drug pricing case.The company took an impact of Rs 85 crore in Q4FY23 related to the Morton Grove plant closure in the US.Wockhardt had agreed to pay $36 million and interest over nine installments between 2022 and 2025 to the State of Texas in a drug pricing case that alleged that it was overcharged for drugs supplied to the Texas Medicaid Program.The company recorded a revenue of Rs.710 crore in Q4FY23 compared to Rs.666 crore in Q4FY22, registering a growth of 7%.The EBITDA for the quarter is Rs.47 crore in Q4FY22, registering a growth of 314%.The UK business grew 8% YoY to Rs.242 crore in Q4FY23. UK businesses contributed about 36% of global revenue. India's formulation business stood at Rs.125 crore in Q4FY23. India contributed 19% of the revenue.The emerging markets business of the company stood at Rs.173 crore in Q4FY23, registering a growth of 16%. Emerging markets contributed about 25%.

Source: Economic Times May 27, 2023 14:42 UTC