Pharmaceutical and Biotechnology major Wockhardt reported strong growth in top line as well as bottom line during the second quarter ended September 2011. It earned a net profit of Rs.127.58 crore as against a net loss of Rs.96.68 crore in the corresponding period of last year. Its EBDITA also moved up by 46 per cent to Rs.326.18 crore from Rs.223.37 crore. The company's consolidated net sales increased by 18.2 per cent to Rs.1,111 from Rs.940.07 crore.
Dr Habil Khorakiwala, chairman, said, “Wockhardt is showing consistent all-round growth globally. We are focussed on developing high-technology solutions like patented extended release products that will offer great value to all our stakeholders. Our commitment to the same can be seen from the fact that we received for the 3rd consecutive year, the Government of India Patents Award for the ‘Maximum Patents granted Worldwide to an Indian Company’. Wockhardt's USA showed a robust growth of 49 per cent with its prime products improving market share in a highly competitive market scenario. There were 3 ANDA filings and 4 approvals for the quarter.
For first half ended September 2011, Wockhardt's net sales increased by 16.2 per cent to Rs.2,164 crore from Rs.1,862 crore and its net profit worked out to Rs.321.54 core as against a net loss of Rs.212.96 crore in the similar period of last year. Wockhardt USA received 8 approvals taking the overall tally to 84 approvals and Morton Grove Pharmaceuticals has 34 approvals till date. The infusion of new product launches will see Wockhardt USA breaking new ground in this market.
Wockhardt’s India business grew by 13.5 per cent in the second quarter, capturing a market share of 2.03 per cent as compared to 1.94 per cent last year (MAT Sept - IMS). In Q2-2011, 9 new products were launched. Also Wockhardt’s 6 brands featured amongst the Top-300 brands of the industry. The API business grew by 109 per cent and Exports (RoW) grew by 32 per cent. Wockhardt’s Power Brands continue to push the boundaries of growth in the Indian Pharmaceutical market.
Wockhardt UK business continues to be the No.1 Indian generic company and overall the 4th generic company in the UK. Sales revenues grew by 3.6 per cent. Wockhardt UK launched 3 new products and had 7 filings and 8 approvals during this period. Pinewood Healthcare continues to be the No.1 generic company in Ireland. It grew by 4.8 per cent over the corresponding period of 2010-11, despite the industry showing de-growth of 4 per cent. It also launched 2 new products in the Irish market during the said period with Nexazole achieving a 35 per cent market share since its launch in June 2010.