Wockhardt
A major contributor to this article appears to have a close connection with its subject. (June 2021) |
Type | Public |
---|---|
NSE: WOCKPHARMA BSE: 532300 | |
Industry | Pharmaceuticals Health care |
Founded | 1960s |
Founder | Habil Khorakiwala |
Headquarters | Mumbai, Maharashtra, India |
Area served | Worldwide |
Key people | Habil Khorakiwala (Chairman) Murtaza Khorakiwala (managing director) Huzaifa Khorakiwala (Executive Director) |
Products | Formulations Biopharmaceuticals Nutrition products Vaccines |
Revenue | ₹2,840 crore (US$400 million) (FY 2021)[1] |
₹−296 crore (US$−41 million) (FY 2021)[1] | |
Number of employees | 7,900 (2013) |
Subsidiaries | Wockhardt Hospitals Wockhardt Global Schools Wockhardt Foundation |
Website | www |
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]
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] Wockhardt was also reported to be finalizing a contract manufacturing deal for a vaccine 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[]
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.[citation needed]
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.[citation needed]
In 2009, Wockhardt Hospitals sold 10 of its hospitals to Fortis Healthcare for ₹909 crore.[20]
References[]
- ^ Jump up to: a b "Audited Financial Results For The Quarter And Year Ended 31.03.2021" (PDF). BSE. Retrieved 27 May 2021.
- ^ "ABOUT US – Who We Are".
- ^ Jump up to: a b c Sanju Verma, Amit Shah (2007). "Wockhardt : "Wock"ing the talk..." (PDF). HDFC securities. India Research.
- ^ "Wockhardt set to join billion-dollar club". Business Standard. 20 March 2013. Retrieved 20 March 2013.
- ^ "Who we are | Fact Sheet". Wockhardt. Retrieved 20 March 2013.
- ^ "Who we are | Overview". Wockhardt. Retrieved 20 March 2013.
- ^ "Wockhardt Ltd – Price, Fundamentals, Charts, Financials". Business Standard. Retrieved 20 March 2013.
- ^ "Wockhardt Overview". Wockhardt. Retrieved 13 February 2017.
- ^ "OUR OTHER WEBSITES".
- ^ "Wockhardt Chairman's Profile". www.wockhardt.com. Retrieved 13 February 2017.
- ^ Priyanka Sangani (28 March 2008). "Marginal business logic". The Economic Times.
- ^ "Wockhardt Limited". Archived from the original on 20 October 2007. Retrieved 9 May 2009.
- ^ T. Surendar, Charles Assisi (18 January 2008). "'We need a Nano for medicines too'". The Times of India.
- ^ "Introducing Wockhardt". Retrieved 9 May 2009.
- ^ "UK extends COVID-19 vaccine supply deal with India's Wockhardt by 6 months". Mint. 10 February 2021.
- ^ "Wockhardt: the company helping to vaccinate Britain". Financial Times. Retrieved 28 June 2021.
- ^ "Wockhardt Makes Deal For Mystery Vaccine, Announcement In 2 Weeks". NDTV. Retrieved 28 June 2021.
- ^ Reuters Staff (24 October 2007). "UPDATE 1-Wockhardt buys US Morton Grove for $38 mln" – via www.reuters.com.
- ^ Shobhana Subramanian (3 April 2009). "Newsmaker: Habil F Khorakiwala, Scientist in a hurry". Business Standard.
- ^ Unnikrishnan, C. H. (24 August 2009). "Wockhardt to sell 10 hospitals to Fortis". mint. Retrieved 28 June 2021.
External links[]
- Pharmaceutical companies of India
- Manufacturing companies based in Mumbai
- Pharmaceutical companies established in 1960
- Indian companies established in 1960
- 1960 establishments in Maharashtra
- Companies listed on the National Stock Exchange of India
- Companies listed on the Bombay Stock Exchange