Acquisitions Have Fuelled Our Growth

Wockhardt is a true Indian pharmaceutical multinational with full-fledged operations in several countries, including US, UK, Ireland and France. In an exclusive interaction with The Dollar Business, Dr. Murtaza Khorakiwala, Managing Director of Wockhardt Group, talks about the company’s innovative business models that are in motion to make the most of emerging opportunities across the globe.

- Anishaa Kumar

TDB: Could you give us some insights into the journey of Wockhardt Group?

Dr. Murtaza Khorakiwala (MK): Wockhardt ranks amongst India’s leading pharma and biotech companies with a global footprint and a strong R&D focus. It traces its roots back to the 1960s when the Khorakiwala family bought a pharma company that primarily manufactured medicines for common cold and cough. Till 1992, the company centred its operations towards becoming a major player in the Indian pharma industry. Thereafter, it concentrated on becoming a global drug maker.

TDB: What role have acquisitions played in Wockhardt’s growth?

MK: Acquisitions have helped Wockhardt continuously strengthen its presence in the global market. In 1998, we acquired Merind, a former affiliate of Merck Sharp & Dohme of US. This enabled the company to penetrate into new therapeutic areas like corticosteroids, psychiatry and neurology. The same year, Wockhardt also acquired UK-based Wallis Laboratory. Later in 2003, it took over CP Pharmaceuticals, another UK-based company, thereby gaining access to a large customer base of hospitals under the National Health Service (NHS). Largely due to these highly successful acquisitions, today, it is the largest Indian pharmaceutical company in UK.

Expansion through acquisitions continued in 2004 when we acquired the brands, businesses and marketing infrastructure of Esparma GmbH of Germany, followed by the purchase of US-based Morton Grove and France-based Negma Laboratories.