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| Wockhardt’s Q2 net profit crosses the Rs.100 crore mark
Pharmaceutical and biotechnology major Wockhardt Limited reported a 62% increase in net profits at Rs. 102 crores for the second quarter ended June 30, 2007. Operating profits climbed 70% to Rs. 152 crores. Operating margins at 24.2% showed an improvement of 250 basis points. Consolidated Sales stood at Rs. 630 crores, showing a 53% growth over the corresponding quarter of 2006. | |||
| 25 Jul 2007
, Mumbai
: Pharmaceutical and biotechnology major Wockhardt Limited reported a 62% increase in net profits at Rs. 102 crores for the second quarter ended June 30, 2007. Operating profits climbed 70% to Rs. 152 crores. Operating margins at 24.2% showed an improvement of 250 basis points. Consolidated Sales stood at Rs. 630 crores, showing a 53% growth over the corresponding quarter of 2006. “With strategic focus, Wockhardt has emerged as the largest Indian Pharmaceutical Company in Europe”, said Wockhardt Chairman Habil Khorakiwala. “We now have presence in the top three markets in Europe, namely UK, France and Germany. Our European business today constitutes over 50% of Wockhardt sales. Another important feature is that India branded business has shown an excellent growth of 25%”. India India business continued to show a healthy growth trend outperforming the industry growth rate of 12% in 2007. Wepox (recombinant erythropoietin) is the No. 1 brand in its segment. Four new products were launched in the marketplace, of which, two were in-licensed patented dermatology products – Vitix and Viticolor. Wockhardt’s aggressive in-licensing strategy set in motion 12 product deals with a strong emphasis in dermatology. Europe Europe continues to be Wockhardt’s single largest market accounting for 56% of consolidated sales. 13 new products were launched in the first half of 2007. USA The US formulation business grew by 51% in Q2 of 2007 driven by four product launches in the quarter. The USFDA approved Terbinafine tablets was a ‘Day-one’ launch in the US market during the same period. Wockhardt USA Inc. now markets 21 products. Wockhardt Limited is a global pharmaceutical and biotechnology major with an innovative research and development programme. Wockhardt has global footprints including UK, France, Germany, Ireland and USA. Wockhardt employs 5500 people worldwide belonging to 14 different nationalities. |
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