Wockhardt Ltd. is a global pharmaceutical and biotechnology company headquartered in Mumbai, India. It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs). The company has manufacturing plants in India, UK, Ireland, France and US, and subsidiaries in US, UK, Ireland and France. More than half of its revenue comes from Europe. It has market presence in Russia, Brazil, Mexico, Vietnam, Philippines, Nigeria, Kenya, Ghana, Tanzania, Uganda, Nepal, Myanmar, Sri Lanka, Mauritius, Lebanon and Kuwait. The company employs over 8,600 people globally. Wockhardt Hospitals 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. In the 1990s, Wockhardt gained market share with its painkiller proxyvon and blood pressure drug aceton. In 1995, it expanded into biotechnology, and subsequently started producing intravenous fluids.
Wockhardt is the first company outside the US and Europe to manufacture recombinant human insulin.
During the COVID-19 pandemic, Wockhardt signed a contract with the Government of the United Kingdom to fill-finish the Oxford–AstraZeneca COVID-19 vaccine at the company’s facility in Wrexham, Wales. The contract was extended until August 2022. Wockhardt was also reported to be finalizing a contract manufacturing deal for a vaccine in India.
Acquisitions and subsidiaries
Wockhardt’s acquisitions include Wallis Laboratory, UK (1998), Merind, India (1998), CP Pharmaceuticals, UK (2003), Espharma GmbH, Germany (2004), Dumex India (2006), Pinewood Laboratory, Ireland (2006), Morton Grove, US (2007), and Negma, France (2007). 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 Huzaifa Khorakiwala as managing director and Executive Director respectively
Wockhardt Hospitals
Wockhardt Hospitals is a tertiary care, super specialty healthcare network in India offering healthcare services. Originally called First Hospitals and Heart Institute, Wockhardt Hospitals was one of the early movers among corporate health-care chains in India. The company was established in 1989 and started its first operations with a medical center in Kolkata, 1989 and a heart hospital in Bangalore two years later. The company has its presence across India with 9 multi-specialty hospital networks. This group of 9 hospitals operates in the fields of 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.
In 2009, Wockhardt Hospitals sold 10 of its hospitals to Fortis Healthcare for ₹909 crore.