The Hindu Business Line : Wockhardt to launch injectable insulin soon

Speaking to newspersons on the sidelines of a research & development (R&D) conference organised by FICCI, Mr Habil F. Khorakiwala, Chairman, Wockhardt, said: "The drug is undergoing the third phase of clinical trials."

Aventis is the innovator company and Wockhardt is aiming to launch the generic version of the drug. It is also hoping to launch interferon, an anti-cancer drug, in the next few months.

Besides, the company is also planning to set up its second R&D facility at Aurangabad with an investment of Rs 50 crore.

The R&D facility will be operational in a year's time and some of the ongoing projects would be moved there.

Wockhardt already has a facility in Aurangabad that does research on biopharmaceutical and biotech products.

Mr Khorakiwala further said the company is considering acquisitions especially in Europe and the US.

"While we are not considering very small-size acquisitions, we are open to large acquisitions," he said. However, he was not willing to divulge details.

Recently, the company was in the news, for being one of the front-runners to acquire Alpharma, a US-based pharma company.

On the healthcare front, Mr Khorakiwala ruled out inorganic growth through acquisitions. However, the expansion plans include setting up a new hospital in North Delhi with a capacity of 250-300 beds.

Wockhardt reported a 30-per cent rise in net profit at Rs 69.2 crore for the quarter ended September 30, 2005 compared to Rs 53.2 crore in the year-ago period, while total income has increased 15.85 per cent to Rs 260.9 crore (Rs 225.2 crore).

The company's share price today closed at Rs 411.75 at the Bombay Stock Exchange, a 2.46 per cent rise over the last traded price.

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