Wockhardt takes biotech portfolio abroad

Drug maker Wockhardt has decided to take is biotech portfolio overseas. To begin with, it has started exporting some of its biopharmaceutical products to Eastern Europe. The company has already registered it biotech products in six countries.

Wockhardt chairman Habil Khorakiwala, in his address to the company's shareholders at its fifth annual general meeting in Mumbai on Thursday, said: "We have received international attention for our biotechnology capabilities. Following the successful launch of our recombinant insulin brand Wosulin in India, we are now working on taking the product to overseas markets. We have also started exporting some of our biopharmaceuticals to Eastern Europe. We are in touch with regulators in developed markets for registering our biopharmaceuticals."

Wockhardt is the first Asian company to manufacture and market recombinant insulin.

Khorakiwala said globalisation has played a key role in the overall development of the company. At the same time, India has become a major supplier of generic pharmaceuticals and has been the driving force towards making healthcare more affordable.

"We decisively moved into the global orbit this year with international business accounting for 57 per cent of our consolidated revenues," Khorakiwala said.

While the domestic market accounts for 43 per cent of the company's business, Europe contributes around 37 per cent with the US and the rest of the world contributing 10 per cent each. The company's formulation sales in the US trebled in 2003.

"The momentum will continue this year. With the establishment of our US subsidiary, we plan to expand our business in the world's largest pharmaceutical market," he added.

The company, which began its drug discovery initiative in 1997 having anticipated its growth strategy in a product patent regime that comes into effect next year, appears to have made considerable progress in its new drug development programme. Wockhardt has a number of anti-infective candidates at various stages of its research pipeline.

Khorakiwala said that three of these are at advanced stages. While WCK-771 has reached phase I human clinical trials, the company's other potent milecule WCK 1152 will undergo human clinical trials in the next few months.