Financial Daily from THE HINDU group of publications
Tuesday, Feb 15, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 15, 2005 |
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Corporate
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Announcements Marketing - New Products & Services Industry & Economy - Health Wockhardt hopes for Rs 100-cr sales in biotech products Our Bureau
Mr Habil Khorakiwala, Chairman, Wockhardt Ltd, at the launch of the company's automatic insulin delivery device and recombinant cartridges in the Capital on Monday. - Ramesh Sharma
New Delhi , Feb. 14 WOCKHARDT Ltd is betting on its biotech products and is hoping to generate sales of at least Rs 100 crore from this segment. Mr Habil Khorakiwala, Chairman, Wockhardt, told newspersons that "currently, there are three main drivers — Wepox (a drug used in cancer treatment), Wosulin (insulin) and a Biovac B (hepatitis vaccine)." He said that another new drug; interferon (used for treatment of Hepatitis C) would be added this year followed by Glargin — a long-acting insulin. Mr Khorakiwala said that phase-three trials for interferon have been completed and the company is awaiting regulatory approvals. Meanwhile, it has also launched a higher dosage form of Wepox suitable for cancer. The company is looking at markets in South-East Asia, Western Europe and some others for the biotech products. On the acquisitions front, Mr Khorakiwala said that the company was looking at acquiring companies in Europe, especially Germany. Currently, it has joint ventures in Mexico and South Africa and subsidiaries in Brazil and the UK. Almost 60 per cent of the company's revenues are derived from the international market with Europe and the US accounting for a major share. Wockhardt has filed about 10 abbreviated new drug approvals (ANDA) in the US and expects to get 5-6 clearances this year. These are in the therapeutic segments of antibiotics, cardiovascular drugs and psychotropic drugs. It expects to file another 15-18 ANDAs this year. Several drug master file applications are also pending before various regulatory authorities. The company has also launched an automatic insulin delivery device and recombinant insulin cartridge in the country. Wockhardt has started manufacturing the cartridges in India and the company claims that these have been priced lower than the imported ones available here. The pen delivery system costs about Rs 1,099, while a cartridge is available for Rs 169.
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