Wockhardt is looking to acquire a German firm this year to strengthen its position in Europe, and has set an overall sales target of Rs 100 crore from its biotech products in the current year."We would be having at least one acquisition in Europe this year. With Germany being a major market for us, it is most likely to be there," Habil Khorakiwala, chairman of Wockhardt, said at a press conference while launching the company's automatic insulin delivery device."The funding for the acquisition would be through the $110 million we have recently raised by way of FCCBs," he said without disclosing the details of the company to be acquired.Wockhardt already has a presence in Germany with the acquisition of Esparma Gmbh last year.
