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Wockhardt plans to triple revenue from US market

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Pharma major Wockhardt is planning to triple or quadruple the company’s revenue from the US by 2009 from around Rs 200 crore through organic route alone, and is also looking for marketing partner for new drug launches. They are also looking at inorganic route, which will expedite their growth process in the US. The inorganic growth plans would be within the company’s resources. Like many Indian majors, Wockhardt will also focus on niche drug segments in the US where there is less competition. The company plans to file applications for insulin by end of next year and hope to start marketing the product by 2009. In addition, the company also has 18 pending new drug applications with the US Foods and Drugs Administration (FDA), including a first to file. The market size of these drugs is over $5 billion, he added. At present, US- the world’s largest market- contributes just about 9% of the company’s revenue while Europe contributes 52% of company’s total revenues. In the US, the company markets 21 products, including 6 injectables under its own label. Wockhardt is the largest Indian pharma company in Europe with 1,500 employees and over 130 products. For the first half of 2007, the company’s revenue from US stood at Rs 100 crore. While most Indian companies have always targeted the US market to make their fortune, Wockhardt’s overseas growth, which has come through acquisitions, has been Europe centric.

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