FDA sanctions don't kill a business
FDA sanctions may not be the end for a drugmaker. Bloomberg reports that India's Wockhardt Ltd., which was hit with enough violations that the FDA banned products from two of its plants, expects sales to hit $1 billion in 2017, thanks to domestic (as in non-US) sales.
Bloomberg says the firm has become a possible M&A target for peer and neighbor Lupin, Ltd.
“What's attractive about this company, in spite of the import alerts, is its presence in India, the US and Europe,” CIMB securities analyst Prakash Agarwal tells Bloomberg.