Pharmaceutical major Wockhardt is targeting an increase in revenue from its international business to 50 per cent of its turnover within the next few years. At present, international business accounts for 35 per cent of its income of Rs 739.58 crore.During 2001, its international business grew by 29 per cent to Rs 260 crore, with exports from India is growing by 41 per cent to Rs 170 crore, the company said in its annual report for 2001.The export growth was driven by a surge of 85 per cent in value-added medicines. The pharmaceutical markets of Europe and North America continue to be its greatest priority areas for overseas business. Wockhardt's products are currently available in 90 countries. About 65 per cent of the total exports come from the OECD market. Wockhardt has been increasing its presence through strategic alliances in the European Union and North America, mainly in the area of super-generics. Most of these products are based on novel drug delivery systems.Wockhardt's UK subsidiary, Wallis Laboratory, has also continued on its growth path. Amongst Wallis' customers include Tesco, Sainsbury, Alliance UniChem, Boots, Superdrug, IVAX and Carrefour. Analgesic products made by Wallis have a 45 per cent marketshare in the super market segment in the UK. Wallis is also looking at an aggressive expansion of its product offerings. Rapidly growing portfolio of medicines has almost doubled Wockhardt's export sales to Rs 54.2 crore during the year. Its formulations exports form about 32 per cent of the total exports as against 24 per cent in the last year. Wockhardt has put forth 88 new registrations in various international markets, taking the total number of global registrations to over 500.
