Wockhardt UK Ltd, the British arm of Indian pharmaceutical major Wockhardt Limited, has sold its Luton plant near London to UK-based Bristol Laboratories.
Following this, the products of Wallis, manufactured earlier at Luton, have been shifted to CP Pharmaceuticals' plant at Wrexham in Wales, and to Wockhardt's plants in India, a release from Wockhardt said here.
"We are upgrading the Wales plant as Wockhardt's largest overseas manufacturing base at an investment of one million pound sterling," Wockhardt chairman Habil Khorakiwala said.
The upgraded Wales plant will eventually become a manufacturing base for Wockhardt's German subsidiary esparma GmbH.
The sale of Luton plant marks the completion of restructuring operations after the formation of Wockhardt UK Ltd to integrate the businesses of both Wallis and CP Pharmaceuticals under one banner. It will reduce Wockhardt's operating costs and improve its bottomline, the release added.
United Kingdom is Wockhardt's largest market outside India. UK contributes to approximately 35 per cent of Wockhardt's consolidated revenue.