Wockhardt

Wockhardt Ltd. is a global pharmaceutical and biotechnology company headquartered in Mumbai, India. It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs).[2] The company has manufacturing plants in India, UK, Ireland, France and US, and subsidiaries in US, UK, Ireland and France. More than half of its revenue comes from Europe.[3][4][5] It has market presence in Russia, Brazil, Mexico, Vietnam, Philippines, Nigeria, Kenya, Ghana, Tanzania, Uganda, Nepal, Myanmar, Sri Lanka, Mauritius, Lebanon and Kuwait.[6][7] The company employs over 8,600 people globally.[8] Wockhardt Hospitals is a subsidiary of the Wockhardt Group.[9]

Wockhardt Ltd.
TypePublic
NSE: WOCKPHARMA
BSE: 532300
IndustryPharmaceuticals
Health care
Founded1960s
FounderHabil Khorakiwala
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Habil Khorakiwala (Chairman)
Murtaza Khorakiwala (managing director)
Huzaifa Khorakiwala (Executive Director)
ProductsFormulations
Biopharmaceuticals
Nutrition products
Vaccines
Revenue ₹2,840 crore (US$370 million) (FY 2021)[1]
₹−296 crore (US$−39 million) (FY 2021)[1]
Number of employees
7,900 (2013)
SubsidiariesWockhardt Hospitals
Wockhardt Global Schools
Wockhardt Foundation
Websitewww.wockhardt.com

History

Wockhardt was founded by Dr. Habil Khorakiwala in the 1960s.[10] His father Fakhruddin T. Khorakiwala had acquired Worli Chemical Works[11] in 1959. This was incorporated as Wockhardt Pvt. Ltd., in 1973.[3] Wockhardt Ltd. was incorporated on 8 July.1999.[12] In the 1990s, Wockhardt gained market share with its painkiller proxyvon and blood pressure drug aceton. In 1995, it expanded into biotechnology, and subsequently started producing intravenous fluids.[13]

Wockhardt is the first company outside the US and Europe to manufacture recombinant human insulin.[14]

During the COVID-19 pandemic, Wockhardt signed a contract with the Government of the United Kingdom to fill-finish the Oxford–AstraZeneca COVID-19 vaccine at the company's facility in Wrexham, Wales. The contract was extended until August 2022.[15][16] In August 2021, Wockhardt announced that it signed an agreement with Dubai-based Enso Healthcare and Russian firm Human Vaccine LLC to contract manufacture the Sputnik V and Sputnik Light vaccines in India.[17]

Acquisitions and subsidiaries

Wockhardt's acquisitions include Wallis Laboratory, UK (1998), Merind, India (1998), CP Pharmaceuticals, UK (2003), Espharma GmbH, Germany (2004), Dumex India (2006), Pinewood Laboratory, Ireland (2006), Morton Grove, US (2007),[18] and Negma, France (2007).[3] Wockhardt's debt following the acquisitions was close to Rs 38 billion, and Habil Khorakiwala quit as managing director.[19] The board of directors, on 31 March 2009 approved the appointments of Habil Khorakiwala's sons Murtaza Khorakiwala and Huzaifa Khorakiwala as managing director and executive director respectively

Wockhardt Hospitals
Main article: Wockhardt Hospitals

Wockhardt Hospitals is a tertiary care, super specialty healthcare network in India offering healthcare services. Originally called First Hospitals and Heart Institute, Wockhardt Hospitals was one of the early movers among corporate health-care chains in India. The company was established in 1989 and started its first operations with a medical center in Kolkata, 1989 and a heart hospital in Bangalore two years later. The company has its presence across India with 9 multi-specialty hospital networks. This group of 9 hospitals operates in the fields of Cardiology, Orthopedics, Neurology, Gastroenterology, Urology, Aesthetics and Minimal Access Surgery.

Wockhardt Hospitals was incorporated on 28 August 1991 under the Companies Act, 1956 as a public limited company. In October 2000, the name was changed to Wockhardt Hospitals Limited.

In 2009, Wockhardt Hospitals sold 10 of its hospitals to Fortis Healthcare for ₹909 crore.[20]

Wockhardt is known for producing promethazine with codeine cough syrup, used in the drug lean.[21]

See also

References
  1. "Audited Financial Results For The Quarter And Year Ended 31.03.2021" (PDF). BSE. Retrieved 27 May 2021.
  2. "ABOUT US – Who We Are".
  3. Sanju Verma, Amit Shah (2007). "Wockhardt : "Wock"ing the talk..." (PDF). HDFC Securities. India Research.
  4. "Wockhardt set to join billion-dollar club". Business Standard. 20 March 2013. Retrieved 20 March 2013.
  5. "Who we are | Fact Sheet". Wockhardt. Retrieved 20 March 2013.
  6. "Who we are | Overview". Wockhardt. Retrieved 20 March 2013.
  7. "Wockhardt Ltd – Price, Fundamentals, Charts, Financials". Business Standard. Retrieved 20 March 2013.
  8. "Wockhardt Overview". Wockhardt. Retrieved 13 February 2017.
  9. "OUR OTHER WEBSITES".
  10. "Wockhardt Chairman's Profile". www.wockhardt.com. Retrieved 13 February 2017.
  11. Priyanka Sangani (28 March 2008). "Marginal business logic". The Economic Times.
  12. "Wockhardt Limited". Archived from the original on 20 October 2007. Retrieved 9 May 2009.
  13. T. Surendar, Charles Assisi (18 January 2008). "'We need a Nano for medicines too'". The Times of India.
  14. "Introducing Wockhardt". Retrieved 9 May 2009.
  15. "UK extends COVID-19 vaccine supply deal with India's Wockhardt by 6 months". Mint. 10 February 2021.
  16. "Wockhardt: the company helping to vaccinate Britain". Financial Times. Retrieved 28 June 2021.
  17. "Wockhardt to produce, supply Sputnik V, Sputnik Light Covid vaccine". mint. 13 August 2021. Retrieved 21 September 2021.
  18. Reuters Staff (24 October 2007). "UPDATE 1-Wockhardt buys US Morton Grove for $38 mln" – via www.reuters.com.
  19. Shobhana Subramanian (3 April 2009). "Newsmaker: Habil F Khorakiwala, Scientist in a hurry". Business Standard.
  20. Unnikrishnan, C. H. (24 August 2009). "Wockhardt to sell 10 hospitals to Fortis". mint. Retrieved 28 June 2021.
  21. https://www.bloomberg.com/news/features/2017-03-09/hip-hop-s-unlikeliest-icons-promethazine-codeine-syrup-manufacturers. {{cite web}}: Missing or empty |title= (help)
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