The revenue of pharmaceutical and biotechnology major Wockhardt Ltd was Rs 4,501 crore and operating profit (EBIDTA) was Rs 823 crore during the 15 months period (Jan 2009 – Mar 2010).
For the quarter (Jan-March 2010) under review, the sales revenue was Rs 872 crore and operating profit (EBITDA) was Rs 158 crore. The net loss for the quarter was Rs 565 crore. This included the derivatives related losses and non-cash provisions for impairment of Negma’s goodwill due to the possible threat of generics to its principal product amounting to Rs 633 crore. There was also an exchange fluctuation loss of Rs 16 crore.
Wockhardt’s India branded business grew by 24 per cent in Jan-Mar 2010 over the corresponding period of 2009. The nutrition business grew by 20 per cent. Overall eight brands featured in the list of ‘Top 300’ brands of the industry with two brands in the ‘Top 100’. Wockhardt’s power brands is showed consistent growth of over 26 per cent.
Wockhardt UK grew by 19 per cent compared to the industry growth of only 5 per cent in Jan-Mar 2010 over the corresponding period of 2009. Growth drivers being hospital products that grew by 16 per cent and exports by 31 per cent. The CRAMS business grew by 23 per cent over the same period. Pinewood Healthcare’s domestic business is back on track after its sluggish growth in 2009 and has maintained a market share of 29 per cent during the same period. Two new products, Losartan and Grepid were launched and exports were up by 7 per cent% for Pinewood. Negma Laboratories’ Nebilox grew by 4 per cent during the same period.
Wockhardt’s Morton Grove Pharmaceuticals business has shown a robust 40 per cent growth in Jan-Mar 2010 over the corresponding period of 2009. Wockhardt USA received three ANDA approvals and launched two new products thereby expanding its product basket to 76 in the quarter.
As per March 2010 Wolters Kluwer data, 15 products of Wockhardt USA are ranked in the Top-5 positions in the US. Also, Wockhardt’s Morton Grove Pharmaceuticals has 26 products in the top slots, of which 13 are at the No.1 position and the other 13 are in the No. 2 position in their respective therapeutic groups in the US.