The Hindu Business Line : Wockhardt to integrate Europe, India operations in 6 months

Pharma major Wockhardt Ltd will be integrating its European and Indian operations in about six months to achieve greater synergies, according to Mr Habil Khorakiwala, Chairman of Wockhardt.

“We have put in place a complete restructuring and integration strategy and also hired an external consultant for the purpose,” Mr Khorakiwala told Business Line.

Wockhardt had graduated itself to become the largest Indian pharmaceutical company in Europe by acquiring the fourth largest pharmaceutical group in France, Negma Laboratories, recently for about $265 million.

Negma was the fifth acquisition of Wockhardt in Europe. It now owns Wallis, CP Pharmaceuticals in the UK, Esparma in Germany and Pinewood Laboratories in Ireland.

The company is now present the top three major markets in Europe, UK, France and Germany. At the close of the second quarter of current fiscal ended June 30, 2007, the European operations pooled in over 50 per cent of Wockhardt sales.

“We now employ 1,500 people in Europe and continue to grow between 13 and 15 per cent,” Mr Khorakiwala said. The focus on European markets would be in line with the firm’s plans to train its focus on recombinant biopharmaceuticals and generics. While the firm would be lining up its insulin products for the European markets after clarity in laws pertaining to the biosimilars, Negma’s robust portfolio in generics would boost up pan-European presence.

On the future acquisition plans of the company, Mr Khorakiwala said, “Serious plans are on the anvil for both organic and inorganic growth. Negma is a two-month baby. We will digest its acquisition first and look forward to further shopping spree.”

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