Wockhardt gets USFDA approval for antibiotic injection

Wockhardt has received approval from the United States Foods & Drugs Administration (USFDA) for an ANDA for 1 gm, 2 gm injections of Oxacillin.
 
Oxacillin is a penicillinase-resistant, beta-lactam antibiotic and is used to treat many different infections caused by penicillinase-resistant Staphylococcal and other bacterial injections such as urinary tract infections, septicemia, wound infection, bacterial meningitis, etc. Wockhardt is expected to launch this product in the United States soon. The product is being manufactured at a contract manufacturing facility based near Milan, Italy. 
 
On the financial front, Wockhardt’s consolidated revenue declined to Rs 891 crore in Q1FY18 on a YoY basis. It has reported net loss of Rs 463 crore in Q1FY18 versus net profit of Rs 15.9 crore in Q1FY17.