Wockhardt Ltd has decided to shut down its loss-making US generics business to channel its energy and funds into developing new antibiotics and insulin products. The company filed for voluntary liquidation of its US subsidiaries on 11 July. Wockhardt’s shift comes after years of losses in America and will help it tighten its focus on innovation. The firm says operations in India, the UK and Ireland will stay unchanged. Its shares rose 3.5% after the announcement.