Wockhardt's robust business backed with profits

Company Brief

Chennai, May 19, 2011

Pharmaceutical and Biotechnology major Wockhardt Limited today announced its results for the FY 2010-11 (April 2010 - March 2011). Consolidated Sales revenue was ' 3,751 crore, showing a growth of 3.1%. Operating Profit (EBIDTA) was ' 908.7 crore, a growth of 41.7% and Net Profit was ' 90.5 crore.

The 4th Quarter results of Jan - March 2011 recorded ' 938.7 crore Sales revenues showing a growth of 7.6%. Operating Profit was ' 265 crore, a growth of 67.7% and Net Profits stood at ' 161.9 crore.

"Wockhardt's performance this year has shown significant improvement, which reflects in its operating profits, primarily driven by improved efficiencies within the organisation and the launch of new products", said Wockhardt Chairman Dr. Habil Khorakiwala. "I am extremely confident going forward that our performance in the coming years will further strengthen Wockhardt's financial position", added Dr. Khorakiwala.

USA Business:

Wockhardt USA has demonstrated a strong growth of 70% in the world's largest and most competitive pharmaceutical market and is geared to derive maximum value from it. With over 110 products marketed in the US, Wockhardt USA and Morton Grove Pharmaceuticals combined have 13 products ranked in No. 1 position and another 15 products in No. 2 position in their respective therapeutic groups in the US (Wolters Kluwer September 2010).

India Business:

Wockhardt's India branded business grew by over 15% in FY 2010-11 and its market share grew to 2.05% in March 2011 as compared to 1.91% in March 2010 (IMS). Overall 6 Wockhardt brands featured amongst the TOP-300 brands of the industry. The generics business grew by 15% and Wockhardt's Power Brands grew by 16%.

Europe Business:

Wockhardt UK continues to be the No.1 Indian generic company with sales revenue growing by 14.5% compared to the industry growth of only 4% during this period. Pinewood Healthcare consolidates its No.1 position in the branded generic market of Ireland, showing a growth of 5.9% compared to a negative industry growth.

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