Credit rating agency, CARE Ratings has upgraded rating of Wockhard’s long term loans from “AA-” to “AA” on partial resolution of regulatory issues and improvement in revenues from contract manufacturing.
The revision factors in partial resolution of regulatory issues along with expectation of these issues being fully resolved in the near term. It also takes into account partial commercialisation of the pharma company’s upcoming new facility.
Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
