CEO: Habil Khorakiwala
Wockhardt, a leading pharma player, has consolidated its biotech sales during FY 05
Pharma major Wockhardt has strengthened its biotech sales for the year 2004-05. The sales from its biotech products for the year 2004-05 estimated at Rs 67 crore against last year's sale of Rs 40 crore. Its biotech sales is expected to reach Rs 100 crore for the year ending December 2005. During 2004 Wockhardt's Diabetology portfolio posted a 92 percent growth with Wosulin capturing 25 percent of new prescriptions. The neuro-psychiatry portfolio registered a 21 percent growth.
Wockhardt has three products namely Biovac- B (hepatitis –B) vaccine, Wepox (erythropoietin) and Wosulin (rDNA human insulin) in its biotech portfolio.
Wockhardt has consolidated its global revenue for the year ended December 31, 2004 at Rs. 1,239 crore registering a growth of 32 percent over the previous year and announced consolidated net profit of Rs. 214 crore, recording a 50 percent increase over 2003. Continuing its spree to launch newer products in biotechnology in February 2005, it launched Wosulin pen, India's first automatic insulin delivery device specially designed for the convenience of Indian diabetic patients. It has also launched a dedicated website for diabetics, www.wockhardtdiabetic.com, in nine Indian languages.
In addition to marketing of the products, it is also working on developing new biopharmaceutical products at its new plant in Aurangabad, Maharashtra. About 80 scientists are working on breakthrough technologies in the area of biopharmaceuticals at this complex. Wockhardt has robust pipeline of products, which are at various stages of pre clinical and clinical trials. It has completed phase III clinical trials on interferon alpha 2b used in the management of cancer. Pre-clinical work has been completed on growth stimulating factors (GCSF) and on the breakthrough biotechnology product, Glargine, a new advance on insulin. This is the second such product in the world.
Considering the growth of biotechnology products, Wockhardt has established a new strategic business unit to drive its biotechnology business during the tenure of Dinesh Dua as its president. Wockhardt has received 17 registrations for its biopharmaceuticals and 36 registrations are being pursued in various overseas markets such as Russia, South America, Central Asia, South East Asia and North Africa. It has formed majority joint venture in Mexico and South Africa and has set up a subsidiary in Brazil.
In Mexico, Wockhardt has signed a joint venture agreement with Representaciones E Investigaciones Medicas, SA de CV, a leading company. Wockhardt Mexico SA de CV, 51 percent owned by Wockhardt and 49 percent by the local firm, will initially market all forms of insulin manufactured by Wockhardt. At a later stage, it will market other diabetology products and biopharmaceutical products.
Wockhardt has also established a sales and marketing subsidiary, Wockhardt Farmaceutica do Brasil Ltda in Brazil to market its pharmaceutical and biopharmaceutical products. Wockhardt South Africa Pty Ltd, a 51:49 joint venture between Wockhardt and Pharma Dynamics, will use the regulatory, sales and marketing expertise of Pharma Dynamics to commercialize the growing pharmaceutical and biopharmaceutical portfolio of Wockhardt.
Wockhardt has an active multi-disciplinary R&D program largely focused on developing innovative technologies and drug discovery. The company engaged in new drug discovery research and has several new chemical entities in the field of sepsis and anti-infectives.
The Company's efforts in biotechnology have led to three successful brands-Biovac-B (Hepatities-B) vaccine, Wepox (erythropoietin) and Wosulin (rDNA human insulin).