Wockhardt Ltd. is a global pharmaceutical and biotechnology company headquartered in Mumbai, India. The company has manufacturing plants in India, UK, Ireland, France and US, and subsidiaries in US, UK, Ireland and France. It is a global company with more than half of its revenue coming from Europe. In 2011–2012 its UK and USA sales alone were 475 million. It has market presence in emerging markets such as Russia, Brazil, Mexico, Vietnam, Philippines, Nigeria, Kenya, Ghana, Tanzania, Uganda, Nepal, Myanmar, Sri Lanka, Mauritius, Lebanon and Kuwait. The Company has a market capitalisation of over and an annual turnover of. It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients. The company employs over 8,600 people globally. Wockhardt Hospitals is a subsidiary of the Wockhardt Group. Wockhardt Global School is a subsidiary of the Wockhardt Group.
History
Wockhardt was founded by Dr. Habil Khorakiwala in the 1960s. His father Fakhruddin T. Khorakiwala had acquired Worli Chemical Works in 1959. This was incorporated as Wockhardt Pvt. Ltd., in 1973. Wockhardt Ltd. was incorporated on 8 July.1999. Wockhardt is often confused as a multinational because of its German-sounding name. Wockhardt is the first company outside the US and Europe to manufacture recombinant human insulin.
Acquisitions and subsidiaries
Wockhardt's acquisitions include Wallis Laboratory, UK, Merind, India, CP Pharmaceuticals, UK, Espharma GmbH, Germany, Dumex India, Pinewood Laboratory, Ireland, Morton Grove, US, and Negma, France. Wockhardt's debt following the acquisitions was close to Rs 38 billion, and Habil Khorakiwala quit as managing director. The board of directors, on 31 March 2009 approved the appointments of Habil Khorakiwala's sons Murtaza Khorakiwala and Hozaifa Khorakiwala as managing director and Executive Director respectively As of 28 April 2017, the consensus forecast amongst 2 polled investment analysts covering Wockhardt Limited advises that the company will underperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on 17 November 2016. The previous consensus forecast advised investors to hold their position in Wockhardt Limited.
Wockhardt Hospitals
Wockhardt Hospitals are one of the tertiary care, super speciality healthcare networks in India offering healthcare services. Wockhardt hospitals, originally called First hospitals and Heart Institute, were one of the early movers among corporate health-care chains in India. The company was established in 1989 and it started its first operations with a medical center in Kolkata, 1989 and a heart hospital in Bangalore two years later. Today, the company has its presence across India with 9 multi-speciality hospital networks. This group of 9 hospitals caters to the need of the community in its chosen field of super specialty like Cardiology, Orthopedics, Neurology, Gastroenterology, Urology, Aesthetics and Minimal Access Surgery. Wockhardt Hospitals was incorporated on 28 August 1991 under the Companies Act, 1956 as a public limited company. In October 2000, the name was changed to Wockhardt Hospitals Limited.
Wockhardt Global School
Wockhardt Global School is a co-educational international day school. It is located about from Aurangabad. WGS is a non-profit social initiative by Wockhardt. It is an authorized IB World School for the Primary Years Programme and Candidate school for MYP and DP Programmes. The Wockhardt Global School at Aurangabad, Maharashtra has figured in the list of 16 most beautiful school] in the world published by Business Insider. Wockhardt Global School became the first educational facility in Maratha to be recognized by International Baccalaureate Organisation.
Wockhardt Foundation is a national, not-for-profit organization engaged in social service and human welfare activities. Its 18 programmes have made a perceptible change in its areas of operation to the lives of the underprivileged. Wockhardt Foundation, in collaboration with various partners including Wockhardt Hospitals implements a host of social initiatives based on principles of optimising resources, minimising costs and maximising delivery of effective long-term solutions and services. Wockhardt Foundation's social initiatives include mobile medical services, toy libraries, sanitation, e-learning, skill learning, etc. The CSR activities impact nearly 3 million lives every year.
