Wockhardt eyeing European acquisitions

Pharma major, Wockhardt is moving surefootedly on its acquisition plans in Germany. While Wockhardt Chairman, Habil Khorakiwala refused to comment on its reported bid for German generic firm Viatris, he did admit to looking at more than one player in the generic drug space in Europe.

Habil Khorakiwala, Chairman, Wockhardt said, "We look at so many companies simultaneously and the whole process takes 4 to 6 months, so its very difficult for us to comment."

Khorakiwala also said exports, which account for half of Wockhardt's sales currently, are set to increase this year to 60% of total sales.He also said the US market turnover is showing a growth of 50% on year on the back of more number of ANDAs being filed.

Khorakiwala said, "Yes, we have filed number of ANDAs this year. We expect approvals to come in next few, second half of the year 3-4 approvals and we will end up filing about 15 -16 ANDAs this year and about 10 to 12 are already pending approval. So I think as we get product approval obviously the business profile changes."