Wockhardt Ltd, a Mumbai based Rs 1700 crore pharma giant, has entered into an agreement with Ifrah Finance S.A. of France to acquire Negma Lerads S.A.S, a French pharmaceutical group having a sales turnover of US$ 150 million during the last financial year.

Wockhardt continues to maintain a strong focus on developing its international presence, and currently business outside India constitutes two-third of the total revenues of the company. Recently, the company has signed two in-licensing agreements for Indian market. Its US formulation business increased by 44 per cent and Europe business by 93 per cent during the quarter ended March 2007.

The company is strengthening its presence in Europe through strategic acquisitions. It acquired Wallis, UK in 1998, CP Pharmaceuticals, UK in 2003, Esparma, Germany in 2004 and Pinewood, Ireland in 2006.