Wockhardt

Wockhardt Ltd.
Public company (NSE: WOCKPHARMA)
Industry Pharmaceuticals
Health care
Founded 1960s
Founder Habil Khorakiwala
Headquarters Mumbai, India
Area served
 Worldwide
Key people
 Habil Khorakiwala (Chairman)
Murtaza Khorakiwala (managing director)
[1] (Executive Director)
Products Formulations
Biopharmaceuticals
Nutrition products
Vaccines
Revenue Increase ₹46.14 billion (US$640 million)[2]
Total equity $1.4 billion
Number of employees
 7,900 (2013)
Website www.wockhardt.com

Wockhardt Ltd. is a Global pharmaceutical and biotechnology company headquartered in Mumbai, India. The company has manufacturing plants in India, UK, Ireland, France and US, and subsidiaries in US, UK, Ireland and France. It is a global company with more than half of its revenue coming from Europe.[3][4] In 2011–2012 its UK and USA sales alone were US$475 million.[5] It has market presence in emerging markets such as Russia, Brazil, Mexico, Vietnam, Philippines, Nigeria, Kenya, Ghana, Tanzania, Uganda, Nepal, Myanmar, Sri Lanka, Mauritius, Lebanon and Kuwait.[6] The Company has a market capitalisation of over ₹211 billion (US$2.9 billion)[7] and an annual turnover of ₹36 billion (US$500 million). It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs).[8] The company employs over 8,600 people globally.[9] Wockhardt Hospitals is a subsidiary of the Wockhardt Group.[10]

Wockhardt Towers at Bandra Kurla complex in Mumbai.

History

Wockhardt was founded by Dr. Habil Khorakiwala in the 1960s.[11] His father Fakhruddin T. Khorakiwala had acquired Worli Chemical Works[12] in 1959. This was incorporated as Wockhardt Pvt. Ltd., in 1973.[3] Wockhardt Ltd. was incorporated on July 8.1999.[13] Wockhardt is often confused as a multinational because of its German-sounding name.[14]

Wockhardt is the first company outside the US and Europe to manufacture recombinant human insulin.[15]

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),[16] and Negma, France (2007).[3] Wockhardt's debt following the acquisitions was close to Rs 38 billion, and Habil Khorakiwala quit as managing director.[17] The board of directors, on 31 March 2009 approved the appointments of Habil Khorakiwala's sons Murtaza Khorakiwala and Hozaifa Khorakiwala as managing director and Executive Director respectively

As of April 28, 2017, the consensus forecast amongst 2 polled investment analysts covering Wockhardt Limited advises that the company will underperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on November 17, 2016. The previous consensus forecast advised investors to hold their position in Wockhardt Limited.[18]

Wockhardt Hospitals

Wockhardt Hospitals[19] are one of the tertiary care, super speciality healthcare networks in India offering healthcare services. Wockhardt hospitals, originally called First hospitals and Heart Institute, were one of the early movers among corporate health-care chains in India. The company was established in 1989 and it started its first operations with a medical center in Kolkata, 1989 and a heart hospital in Bangalore two years later. Today, the company has its presence across India with 9 multi-speciality hospital networks. This group of 9 hospitals caters to the need of the community in its chosen field of super specialty like 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.

Corporate Social Responsibility

Wockhardt Foundation is a national, not-for-profit organization engaged in social service and human welfare activities. Its 18 programmes have made a perceptible change in its areas of operation to the lives of the underprivileged.[20] Wockhardt Foundation, in collaboration with various partners including Wockhardt Hospitals implements a host of social initiatives based on principles of optimising resources, minimising costs and maximising delivery of effective long-term solutions and services. Wockhardt Foundation’s social initiatives include mobile medical services, toy libraries, sanitation, e-learning, skill learning, etc. The CSR activities impact nearly 3 million lives every year.[20]

References

  1. ↑ Huzaifa Khorakiwala
  2. ↑ "Wockhardt:Fact Sheet". Wockhardt. Retrieved 16 July 2010.
  3. 1 2 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. ↑ "ABOUT US – Who We Are".
  9. ↑ "Wockhardt Overview". Wockhardt. Retrieved 13 February 2017.
  10. ↑ "OUR OTHER WEBSITES".
  11. ↑ "Wockhardt Chairman's Profile". www.wockhardt.com. Retrieved 13 February 2017.
  12. ↑ Priyanka Sangani (28 March 2008). "Marginal business logic". The Economic Times.
  13. ↑ "Wockhardt Limited". Archived from the original on 20 October 2007. Retrieved 9 May 2009.
  14. ↑ T. Surendar, Charles Assisi (18 January 2008). "'We need a Nano for medicines too'". The Times of India.
  15. ↑ "Introducing Wockhardt". Retrieved 9 May 2009.
  16. ↑ Wockhardt buys US Morton Grove for $38 mln
  17. ↑ Shobhana Subramanian (3 April 2009). "Newsmaker: Habil F Khorakiwala, Scientist in a hurry". Business Standard.
  18. ↑ "Murtaza Khorakiwala is new MD of Wockhardt, Huzaifa new Executive Director". DWS Pill Scribe. 2 April 2009.
  19. ↑ Wockhardt Hospitals
  20. 1 2 http://wockhardtfoundation.org/aboutus.aspx
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