Pharmaceutical major Wockhardt Ltd announced a restructuring of its field organization to upgrade its competitiveness and productivity
Glenmark Pharmaceuticals Ltd on Tuesday said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the US. The acquisition by the company's fully-owned subsidiary Glenmark Pharmaceuticals Inc, USA includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg used to treat and prevent ulcers in the stomach and intestine, the company said in a statement. The company, however, did not disclose the financial details.
Indian drug maker, Wockhardt Ltd on Friday said it has acquired Dumex India Pvt Ltd along with its two products Protinex and Farex from the Netherlands-based Royal Numico NV for an undisclosed sum.
The sale of the 10 hospital properties to Fortis Healthcare will help Khorakiwala repay the Rs 500 crore (Rs 5 billion) debt on Wockhardt Hospital's books.
The company had posted a consolidated net profit of Rs 323.31 crore (Rs 3.23 billion) in the same period last fiscal, Wockhardt Ltd said in a filing to the Bombay Stock Exchange.
The company had posted a consolidated net profit of Rs 453.55 crore (Rs 4.53 billion) in the same quarter last fiscal, Wockhardt Ltd said in a filing to the BSE.
Wockhardt said it is launching the product immediately in the US market.
Pharma major, Wockhardt Ltd on Tuesday announced the acquisition of Ireland's leading generic pharmaceutical company Pinewood Laboratories Ltd for over Rs 686 crore
Wockhardt Ltd has signed an In-licensing agreement with UK-based LSI to market Vitix, a drug used for treating pigmentation disorder.
Wockhardt Ltd has received tentative approval from the USFDA for anti-epileptic drug, Divalproex Sodium delayed-release tablets.
Wockhardt Ltd has informed BSE that it will be publishing by March 31 the audited results for year ended December 31 and for the quarter ended on that date and in view of this the unaudited results will not be published.
Pharma major Wockhardt Ltd's consolidated net profit increased 35.6 per cent to Rs 142.5 crore (Rs 1.42 billion) for financial year ended December 2003
Pharma-major Wockhardt Ltd has set up a sales and marketing subsidiary in the United States to drive its business in the world's largest pharmaceutical market.
These drugs will be entering in their global Phase -3 clinical trials early next year.
As part of its major expansion plans overseas, pharma major Wockhardt Ltd has set up joint ventures in Mexico and South Africa and established a wholly-owned subsidiary in Brazil.
Pfizer, the world's largest pharmaceutical company, has filed patent infringement suits against Sun Pharma, Wockhardt Ltd and Lupin Ltd to prevent these companies from securing marketing approvals for the generic equivalents of its high-selling neuropathic pain management drug Lyrica in the United States.
Wockhardt said, the drug regulator suspended the manufacture, sale or distribution of fixed dose combination of Dicyclomine Hydrochloride IP 10mg
Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
Pharma major Wockhardt Ltd has posted a 13.3 per cent increase in net profit at Rs 34.9 crore (Rs 349 million) for the second quarter ended June 30, 2003 as against Rs 30.8 crore (Rs 308 million) for the corresponding quarter last fiscal.
According to the chairman, there will be an annual loss of Rs 100 crore due to the MHRA alert on Waluj plant
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The company had in May announced that the US Food and Drug Administration had issued an import alert on its Waluj facility, which makes injectables and solid dosages.
Last month, the US Food and Drugs Administration had placed Wockhardt's facilities in Waluj near Aurangabad on import alert, barring supply of various products from these facilities to the US.
Its Waluj manufacturing facility in Maharashtra failed to meet the good manufacturing norms prescribed by the UK drug regulator.
Wockhardt MD Murtaza Khorakiwala said his firm had responded to the FDA's observations but declined to give details.
Front-running is a fraudulent practice where traders exploit advance knowledge of large client orders for personal profit.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
The Mulund complex, which already has a heart hospital, would also have speciality unit on bone and joint, Wockhardt chairman Habil Khorakiwala told reporters in Mumbai.
The company will open seven new super speciality hospitals at major locations across the country and increase the bed capacity of some of its existing super speciality hospitals at an investment of Rs 700 crore (Rs 7 billion) by 2010. Currently, the company has 17 super speciality hospitals with over 2,000 in-patient beds across the country, four in Bangalore, three in Mumbai, two each in Nagpur, Hyderabad and Kolkata, and one each in Rajkot, Surat, Bhavnagar and Nashik.
The Delhi High Court on Friday stayed the ban on some fixed dose combination (FDC) drugs of Glaxo SmithKline, Wockhardt and Laboratories Griffon but said action against their sale could be taken in the absence of valid sale and marketing licence.
Ex-head of BPL Mobile and currently a Rajya Sabha MP, Rajeev Chandrasekhar will be the new head of Ficci.
Pharmaceutical major Wockhardt Ltd on Saturday claimed it has developed a new form of long-lasting insulin called Glargin and plans to launch it in India by 2006.
A vaccine developed by the Chinese will hit the Indian market on Monday.
'In any business you have to achieve short-term goals.' 'But at the same time you have to keep your broader perspective long term.' 'It is good for business survival.'
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