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Mr Habil F. Khorakiwala

P.T. Jyothi Datta

Mumbai, Dec. 7

The forthcoming year is packed with activity for Wockhardt, in both its pharmaceutical and healthcare businesses.

With three acquisitions undertaken in little over a year across Europe and the US, Wockhardt Ltd is in the process of consolidating its global pharmaceutical operations.

Wockhardt had acquired five companies in Europe, the last being France’s Negma Laboratories in May. Wockhardt is in the process of implementing the integration process, which includes “enhancement of product usage”, reduction of some manpower and further investments, said the Wockhardt Chairman, Mr Habil Khorakiwala.

Bain and Company, the consultant for the integration of operations in Europe, has completed the task, he said.

Products will be rationalised across different operations in Europe and there will be a reduction of 90 people at the plant near Manchester, Mr Khorakiwala said.

The first phase of this has been completed and the second phase will be in the first six months of 2008, he said.

Meanwhile, Wockhardt will also invest £5 million at the sterile and injectibles plant there over the next 18 months, he added.

In October, Wockhardt had acquired Morton Grove in the US and efforts are on to improve the topline and reduce costs, here too, he said.

Wockhardt Hospitals is also set for growth, with plans for new hospitals in metros and “brown-field” managed hospitals in tier-II cities.

The hospital-chain, from the same promoter-family, looks to raise between Rs 800 crore and Rs 1,000 crore through an IPO.

The IPO will hit the market in the first quarter of 2008, Mr Khorakiwala said.

Wockhardt Hospitals looks to dilute “a little less than 30 per cent”, he said.

More Stories on : Pharmaceuticals | Outlook | Overseas Investments | Medical Institutions & Hospitals

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