Wockhardt
Encyclopedia
Wockhardt Ltd. is a 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 a more than half of its revenue coming from Europe
. The Company has a market capitalisation of over and an annual turnover of . It produces formulation
s, biopharmaceutical
s, nutrition
products, vaccine
s and active pharmaceutical ingredients (APIs). The company employs over 7,000 people globally. Wockhardt Hospitals is a subsidiary of the Wockhardt Group.
Wockhardt was founded by Habil Khorakiwala in the early 1960s. His father Fakhruddin T. Khorakiwala
had acquired Worli Chemical Works in 1959. This was incorporated as Wockhardt Pvt. Ltd., in 1973. Wockhardt Ltd. was incorporated on July 8.1999. Wockhardt is often confused as a multinational
because of its German sounding name.
Wockhardt is the first company outside of the US and Europe to manufacture recombinant human insulin.
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) and Negma, France (2007). Wockhardt's debt following the acquisitions was close to Rs 3,800 crore, and Habil Khorakiwala quit as Managing Director. The board of directors, on March 31, 2009 approved the appointments of Habil Khorakiwala's sons Murtaza Khorakiwala and Hozaifa Khorakiwala as Managing Director and Executive Director respectively.
Biotechnology
Biotechnology is a field of applied biology that involves the use of living organisms and bioprocesses in engineering, technology, medicine and other fields requiring bioproducts. Biotechnology also utilizes these products for manufacturing purpose...
company headquartered in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. The company has manufacturing plants in India, UK, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
and US, and subsidiaries in US, UK, Ireland and France. It is a global company with a more than half of its revenue coming from Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
. The Company has a market capitalisation of over and an annual turnover of . It produces formulation
Formulation
Formulation may refer to:* Clinical formulation* Formulations * Formulation science* Pharmaceutical formulation:** Galenic formulation* Pesticide formulation...
s, biopharmaceutical
Biopharmaceutical
Biopharmaceuticals are medical drugs produced using biotechnology. They include proteins , nucleic acids and living microorganisms like virus and bacteria where the virulence of viruses and bacteria is reduced by the process of attenuation, they can be used for therapeutic or in vivo diagnostic...
s, nutrition
Nutrition
Nutrition is the provision, to cells and organisms, of the materials necessary to support life. Many common health problems can be prevented or alleviated with a healthy diet....
products, vaccine
Vaccine
A vaccine is a biological preparation that improves immunity to a particular disease. A vaccine typically contains an agent that resembles a disease-causing microorganism, and is often made from weakened or killed forms of the microbe or its toxins...
s and active pharmaceutical ingredients (APIs). The company employs over 7,000 people globally. Wockhardt Hospitals is a subsidiary of the Wockhardt Group.
Wockhardt was founded by Habil Khorakiwala in the early 1960s. His father Fakhruddin T. Khorakiwala
Fakhruddin T. Khorakiwala
Fakhruddin T. Khorakiwala was an Indian businessman and Sheriff of Mumbai. From 2000 until his death, he was the chancellor of Jamia Milia Islamia. He is a well known Indian businessman, and owns Akabarallys group of departmental stores in Mumbai...
had acquired Worli Chemical Works in 1959. This was incorporated as Wockhardt Pvt. Ltd., in 1973. Wockhardt Ltd. was incorporated on July 8.1999. Wockhardt is often confused as a multinational
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
because of its German sounding name.
Wockhardt is the first company outside of the US and Europe to manufacture recombinant human insulin.
Wockhardt's acquisitions include Wallis Laboratory, UK (1998), Merind, India (1998), CP Pharmaceuticals, UK (2003), Espharma GmbH, Germany (2004), Dumex
Dumex
Dumex is an infants' and children's nutrition company. Its products span the growing-up milk and follow-on milk categories, and are sold mainly in South-East Asia and China....
India (2006), Pinewood Laboratory, Ireland (2006) and Negma, France (2007). Wockhardt's debt following the acquisitions was close to Rs 3,800 crore, and Habil Khorakiwala quit as Managing Director. The board of directors, on March 31, 2009 approved the appointments of Habil Khorakiwala's sons Murtaza Khorakiwala and Hozaifa Khorakiwala as Managing Director and Executive Director respectively.