HABIL KHORAKIWALA HAS seen more than his fair share of ups and downs in the nearly 60 years since he founded the Mumbai-based pharmaceuticals company Wockhardt in 1967. But even so, the closure of the company's US-based manufacturing facility at Morton Grove, Illinois, last year marked a significant shift.
Once known for its painkiller Proxyvon and blood pressure medications in the 1990s (the business was later sold to Dr. Reddy's Laboratories) and being one of the first companies outside the US and Europe to manufacture recombinant human insulin, Wockhardt continues to grapple with financial challenges.
In the 1990s and 2000s, the company made a clutch of acquisitions, one of the reasons why its debt ballooned. A decade later, it was caught on the wrong foot when the financial crisis hit because of investments in derivatives that went bad, forcing it to enter a painful debt restructuring programme. By 2012, the company looked to have overcome its troubles, only for it to come up against some strong headwinds. The challenges were compounded by the increasing complexity of the pharma industry, characterised by stringent regulations, intense competition, and rising costs.
The pharma and biotechnology giant that Wockhardt Chairman Khorakiwala painstakingly built is now a shadow of its former self. But he is as resolute as before when he meets this journalist.
What fuels this optimism? "We have invested heavily in research and innovation, and raised funds, showing our long-term commitment. We plan to be cash-positive in the next two to three years, focussing on clinical work and reducing the need for further investment," he says.
He's not done just yet. In fact, he believes he's hit upon a winning formula.
THE BAGGAGE
この記事は Business Today India の 1st September 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today India の 1st September 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.