WOCKHARDT - A Picture of Health
Introduction:
Wockhardt is a Global, Pharmaceutical and Biotechnology company that has grown by leveraging two powerful trends impacting the world of medicine - Globalization and Biotechnology.
The Company has a market capitalisation of over
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US$ 1 billion and an annual turnover of US$ 650 million. Wockhardt’s pace of growth and momentum permeates every mindset, system and technology within the organization.Wockhardt today, is distinguished by a strong and growing presence in the world’s leading markets, with more than 65% of its revenue coming from Europe and the United States. Wockhardt’s market presence covers formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs).
The Company has its headquarters in India, and has
- 14 manufacturing plants in India, UK, Ireland, France and US
- Subsidiaries in US, UK, Ireland and France
- Marketing offices in Africa, Russia, Central and South East Asia.
Wockhardt has a strong track record in acquisition management, with five successful acquisitions in the European market. These acquisitions have strengthened Wockhardt’s position in the high-potential markets of Europe, and have expanded the global reach of the organisation.
Wockhardt’s manufacturing facilities in India, UK, Ireland, France and US have the approval of major regulatory bodies, including US FDA and UK's MHRA, with capabilities for both Finished Dosage Formulations and APIs. The output includes
- Steriles (Injectables)
- Biopharmaceuticals
- Orals (Tablets & Liquids)
- Topicals (Creams & Ointments).
Wockhardt is a partner of choice for manufacturing, having entered into manufacturing alliances with leading pharmaceutical and biotechnology majors, including
Astra Zeneca
Lab Aguettant
Aventis
Amylin
Schering-Plough
Eisai
Cell Therapeutics
LSI, UK
AFT, New Zealand
Ebewe, Austria
A key growth driver at Wockhardt is its state-of-the-art, multi-disciplinary research capability backed by a team of 500 skilled scientists. Consistent efforts have resulted in six breakthrough biotechnology products, 750+ patent filings and a pipeline of promising new molecules.
Wockhardt’s strategies are aligned towards being a significant player in the emerging global biopharmaceuticals market. In order to achieve this goal, the company has set up the Wockhardt Biotech Park, India’s largest biopharmaceuticals complex, with six dedicated plants built to international standards.
Area of Research:
Recombinant Biopharmaceuticals: Wockhardt has developed comprehensive ‘concept-to-market’ strengths in all facets of recombinant biotechnology. These include gene-cloning, development of production strains, expertise in all three major expression systems, purification, downstream processing and testing. Wockhardt’s prowess in biotechnology is evident in its success in developing six biopharmaceutical products.
Generics: in recent years, Wockhardt’s growth has been propelled by consistent expansion in the global generics market. Wockhardt has an aggressive programme targeting three strategic platforms for launching generic products in the advanced markets.
Current Research:
The New Drug Discovery team at Wockhardt has developed a number of lead molecules mainly in the anti-infective field, that are currently in various stages of development. The most advanced of these New Chemical Entities (NCEs) is WCK 771 that has commenced Phase II human clinical trials. WCK 771 is a broad-spectrum antibiotic, which has proven effective in treating diverse staphylococcal infections like MRSA and VISA. WCK 1152, a promising lead molecule to treat respiratory tract infections, including hospital-acquired infections, is undergoing Phase I clinical trials.
Products & services:
Wockhardt’s pioneering efforts in biotechnology have led to the launch of three successful products in the Indian market - Biovac-B (hepatitis B vaccine), Wepox (erythropoietin), and Wosulin (recombinant insulin).
Biovac-B is a WHO GMP certified hepatitis B vaccine.
Wepox, Wockhardt’s recombinant erythropoietin, is for the treatment of anaemia caused by cancer and chronic renal failure. Wepox has been created by mammalian cell culture and meets European Pharmacopoeia standards.
Wosulin is the first r-DNA insulin developed and manufactured outside the US and Europe. It has been manufactured through the latest yeast based expression system.
A recent addition to the Company’s product basket is Wosulin Pen & Cartridge, an automatic insulin delivery device - for the convenience of diabetic patients.
The company has also made a breakthrough with Glargine (a novel long-acting insulin). Growth stimulating factors (GSF) are also in the development pipeline.
Financials:
Annual Turnover (2010-2011): Rs. 38 billion (US$ 841 million)
Shareowners: 43,000 (approx.)
Financial Year: April to March
Listings:
1.Equity Shares - National Stock Exchange (NSE), India
Bombay Stock Exchange Limited (BSE), India
http://www.wockhardt.com/aq_results.aspx
2.Global Depository Receipts (GDRs) - Luxembourg Stock Exchange, Europe
Stock Information
http://www.moneycontrol.com/financials/wockhardt/balance-sheet/W05
Press Release:
Wockhardt’s Financial Results - Q1 (April-June) FY 2011-12
Wockhardt’s Operating Profit (EBIDTA)
` 310.8 crore, a growth of 72.5%
Net Profit ` 193.9 crore
Consolidated Sales grew by 14.3% to ` 1,053.2 crore
Mumbai, 09 Aug, 2011
Pharmaceutical and Biotechnology major Wockhardt Limited today announced its first quarter results (April – June 2011) for the FY 2011-12. Consolidated Sales revenue was ` 1,053.2 crore, a growth of 14.3%. Operating Profit (EBIDTA) was ` 310.8 crore, a growth of 72.5% and Net Profit was ` 193.9 crore.
“Wockhardt is focussed on its fundamental priority of delivering a sustained all-round performance this year and in turn create value for all its stakeholders”, said Wockhardt Chairman Dr. Habil Khorakiwala. “Our positive first quarter results of FY 2011-12 is a pointer in this direction”, he further added.
USA Business:
Wockhardt USA continues to exhibit an impressive growth of 131% in the world’s largest and most lucrative pharmaceutical market. With a continuous and steady stream of ANDA approvals, Wockhardt USA has been able to launch products on the date the generic market opportunity opens. While business on the existing products has been robust and growing, the infusion of new products is also augmenting this growth. For the quarter it received 4 ANDA approvals and till date has received 110 approvals in total. In the pipeline are 25 ANDA’s to be approved by the US FDA. Wockhardt USA launched 3 new products this quarter and is determined to garner more market share for all its products.
India Business:
Wockhardt’s India business grew by over 24% in the 1st quarter of FY 2011-12, with a market share of 2.03% (IMS June 2011). Wockhardt’s strategy to expand its All-India reach is bearing much fruit. It also launched 7 new products and 6 of its brands continue to feature amongst the TOP-300 brands of the industry. The generics business grew by 16% and exports grew by a whopping 85%. Wockhardt’s Power Brands continue to show huge potential in the Indian Pharmaceutical Market. Europe Business:
Wockhardt UK continues to be the No.1 Indian generic company and overall the 4th generic company in the UK. Sales revenues grew by 17% and the growth drivers were exports and pharmacy. Wockhardt UK launched 3 new products and had 9 filings and 10 approvals during this period. Pinewood Healthcare continues to be the No.1 generic company and overall the 11th largest pharma company in Ireland. It launched 2 new products and had 2 product filings during the said period. Nexazole has already notched up a 35% market share from its launch in June 2010.
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