The company said it is launching the product immediately
Two pharma majors Novartis and Wockhardt have adopted 'wait and watch' policy with regard to opposition over the yet to be granted patent to their respective drugs.
Met with lukewarm response from a volatile market, Wockhardt Hospitals withdrew its IPO. It received bids only for 19.5%.
According to the chairman, there will be an annual loss of Rs 100 crore due to the MHRA alert on Waluj plant
Wockhardt Hospitals, a leading speciality hospital chain, on Saturday announced its plans to open two hospitals in Hyderabad.
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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.
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.
Fortis is reportedly close to acquiring 10 hospitals of healthcare major Wockhardt for up to Rs 1,200 crore (Rs 12 billion) and an announcement could be made anytime now.
Sources said the company had already secured the required funds for payments due during the current year and might wait for higher valuations for assets that were on the block. Under the CDR, Wockhardt has to divest its non-core assets at an estimated value of Rs 790 crore (Rs 7.9 billion), but the company has been given six years to complete the transaction.
Wockhardt will divest a 24 per cent stake in its unlisted subsidiary, Wockhardt Hospitals.
Indian pharmaceutical major Wockhardt has launched the country's first automatic insulin delivery device and recombinant insulin cartridge.
The FDA Commissioner Margaret Hamburg is slated to travel to India soon.
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
These drugs will be entering in their global Phase -3 clinical trials early next year.
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 company had posted a net profit of Rs 377.97 crore (Rs 3.77 billion) in the same period of previous fiscal.
Pharma major, Wockhardt Ltd on Tuesday announced the acquisition of Ireland's leading generic pharmaceutical company Pinewood Laboratories Ltd for over Rs 686 crore
Pharmaceutical major Wockhardt's UK subsidiary has sold its Luton plant near London to Bristol Laboratories for an undisclosed sum and is investing £1million to make its Wales
Indian pharmaceutical giant, Wockhardt has signed a deal with information technology services provider, Ness Technologies, to install, configure, customise, host and support its US-based financial IT infrastructure, a media report said.
Pharmaceutical and biotechnology major Wockhardt on Monday said it would invest Rs 50 crore (Rs 500 million) for setting up a research and development centre in Aurangabad.
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.
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.
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.
Mumbai-based healthcare firm Wockhardt Hospitals plans to set up 14 super-speciality hospitals across the country over the next two years, which could entail an investment of up to Rs 600 crore (Rs 6 billion). The company is focusing on tier II and tier III cities such as Goa, Bhopal, Nagpur among others for expansion besides metros like Delhi, he said.
Pharma giant Wockhardt group promoted Wockhardt Hospital will invest Rs 500 crore (Rs 5 billion) in four Greenfield projects in the next three-year for its ultra super speciality clinics to be built in Mumbai, Delhi, Bangalore, and Kolkata.
Mumbai-based pharmaceuticals player Wockhardt is set to strengthen its presence in South America
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.
Pharmaceutical major Wockhardt is looking at foraying into Japan either through exports or by setting up a manufacturing base.
Regulator mentions Wockhardt as manufacturer but firm says it only markets drug.
Wockhardt Chairman Habil Khorakiwala can breathe easy, as bankers have approved the debt restructuring package he had sought three months ago.
In a letter to all employees on April 1, a day after the company announced corporate debt restructuring to manage over Rs 3,400 crore of debts and his stepping down as chairman, Habil Khorakiwala indicated Wockhardt wasn't looking to sell its core businesses but would divest some non-core businesses. He said the mounting debts were due to losses from mark-to-market forex issues, liquidity issues, banks tightening lending norms and the global recession.
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.
Drugmaker major Wockhardt plans to introduce two new products - recombinant Human Insulin and Interferon alpha 2b - in the domestic market next year.
Wockhardt Ltd said on Tuesday it has got US Food and Drug Administration's approval to market painkiller tablets containing a combination of Dextropropoxyphene napsylate and Acetaminophen in the US market.
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