{{Short description|Pharmaceutical and biotechnology company headquartered in Mumbai, India}} {{COI|date=June 2021}} {{Use British English|date=January 2014}} {{Use dmy dates|date=April 2026}} {{Infobox company |name = Wockhardt Ltd. |logo = Wockhardt Logo.png |image = Wockhardt Hospital Mumbai.jpg |image_caption = Wockhardt global headquarters in Mumbai |type = Public |traded_as = {{National Stock Exchange of India|WOCKPHARMA}}<br />{{Bombay Stock Exchange|532300}} |foundation = 1960s |founder = Habil Khorakiwala |location = Wockhardt Towers, Bandra Kurla Complex, Mumbai, Maharashtra, India |area_served = Worldwide |key_people = Habil Khorakiwala <small>(Chairman)</small><br />Murtaza Khorakiwala <small>(Managing director)</small><br />Huzaifa Khorakiwala <small>(Executive Director)</small> |industry = Pharmaceuticals<br />Health care |products = Formulations<br />Biopharmaceuticals<br />Vaccines |revenue = {{decrease}} {{INRConvert|2693|c}} (FY23)<ref name="Revenue"/> |operating_income = |net_income = {{negative increase}} {{INRConvert|-621|c}} (FY23)<ref name="Revenue">{{cite news |title=Wockhardt posts net loss of Rs 237 crore in Q4 FY 23 |url=https://www.thehindubusinessline.com/companies/wockhardt-posts-net-loss-of-rs-237-crore-in-q4-fy-23/article66901421.ece |access-date=2 March 2024 |work=The Economic Times |date=27 May 2023}}</ref> |assets = |equity = |subsid = Morton Grove Pharma<ref>{{cite news |title=Wockhardt acquires US-based Morton Grove |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/wockhardt-acquires-us-based-morton-grove/articleshow/2485532.cms |access-date=16 February 2023 |work=The Economic Times |date=24 October 2007}}</ref> |num_employees = 3,000 |num_employees_year = 2023 |homepage = {{URL|www.wockhardt.com}} |footnotes = <ref name="FY21">{{cite news |title=Audited Financial Results For The Quarter And Year Ended 31.03.2021 |url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/d047be4a-2ebc-4f64-94c1-a8f67a730091.pdf |access-date=27 May 2021 |work=BSE}}</ref> }}
'''Wockhardt''' is an Indian pharmaceutical and biotechnology company headquartered in Mumbai, India. It produces formulations, biopharmaceuticals, nutrition products, vaccines and active pharmaceutical ingredients (APIs).<ref>{{cite web |url=http://www.wockhardt.com/who-we-are/overview.aspx |title=Wockhardt – Who we are}}</ref> The company has manufacturing plants in India, UK, Ireland, France and US, and subsidiaries in US, UK, Ireland and France.<ref name="birlaa"/><ref name="bs">{{cite news |date=20 March 2013 |title=Wockhardt set to join billion-dollar club |newspaper=Business Standard India |url=http://www.business-standard.com/article/companies/wockhardt-set-to-join-billion-dollar-club-113031900413_1.html |access-date=20 March 2013 |publisher=Business Standard}}</ref>
==History== Wockhardt was founded by Dr. Habil Khorakiwala in the 1960s.<ref>{{cite web |title=Wockhardt Chairman's Profile |url=http://www.wockhardt.com/who-we-are/chairmans-profile.aspx |website=wockhardt.com |access-date=13 February 2017}}</ref> His father Fakhruddin T. Khorakiwala had acquired Worli Chemical Works<ref>{{cite news |url=https://economictimes.indiatimes.com/corporate-dossier/marginal-business-logic/articleshow/2905713.cms |title=Marginal business logic |author=Priyanka Sangani |work=The Economic Times |date=28 March 2008}}</ref> in 1959. This was incorporated as Wockhardt Pvt. Ltd., in 1973.<ref name="birlaa">{{cite journal |author=Sanju Verma, Amit Shah |year=2007 |title=Wockhardt: "Wock"ing the talk... |url=http://birlaa.com/wp-filez/Wockhardt%20Company%20Report.pdf |archive-url=https://web.archive.org/web/20111003184636/http://birlaa.com/wp-filez/Wockhardt%20Company%20Report.pdf |url-status=usurped |archive-date=3 October 2011 |series=India Research |periodical=HDFC Securities}}</ref> Wockhardt Ltd. was incorporated on 8 July 1999.<ref>{{cite web |title=Wockhardt Limited |url=http://www.pharmabiz.com/redfr.asp?fn=/comprof/wockhardt.asp |access-date=9 May 2009 |url-status=dead |archive-url=https://archive.today/20071020220413/http://www.pharmabiz.com/redfr.asp?fn=/comprof/wockhardt.asp |archive-date=20 October 2007}}</ref> In the 1990s, Wockhardt gained market share with its painkiller Proxyvon (opioid tramadol + paracetamol) and blood pressure drugs (lisinopril, etc.<!-- "aceton" = NO MENTION FOUND -->). In 1995, it expanded into biotechnology, and subsequently started producing intravenous fluids.<ref>{{cite web |url=https://timesofindia.indiatimes.com/business/india-business/we-need-a-nano-for-medicines-too/articleshow/2712332.cms |author=T. Surendar, Charles Assisi |date=18 January 2008 |title=We need a Nano for medicines too |work=The Times of India}}</ref> In 1999, Wockhardt joined the Indian Pharmaceutical Alliance as a founding member in an effort to promote the development of generic drugs in India.<ref>{{Cite news |last=Dec 22 |first=PTILast Updated |date=2022-12-22 |title=Indian pharma sector set for 'volume to value leadership' journey in 2023 |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/indian-pharma-sector-set-for-volume-to-value-leadership-journey-in-2023/articleshow/96407749.cms |access-date=2023-08-06 |issn=0013-0389}}</ref><ref>{{Cite web |title=Introducing IPA- Indian Pharmaceutical Alliance |url=https://www.ipa-india.org/about-ipa/introduction/ |access-date=2023-08-06 |website=IPA, Indian Pharmaceutical Alliance}}</ref>
Wockhardt is the first company outside the US and Europe to manufacture recombinant human insulin.<ref>{{cite web |url=http://www.wockhardt.co.uk/aboutus/wockhardtinternational.asp |title=Introducing Wockhardt |access-date=9 May 2009}}</ref>
In 2011, Wockhardt sold its nutrition business to Danone for $356 million.<ref>{{cite news |title=Wockhardt sells nutrition biz to Danone for Rs 1,576 cr |url=https://www.business-standard.com/article/companies/wockhardt-sells-nutrition-biz-to-danone-for-rs-1-576-cr-111080300045_1.html |access-date=25 January 2023 |work=Business Standard India |date=3 August 2011}}</ref>
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.<ref>{{cite news |title=UK extends COVID-19 vaccine supply deal with India's Wockhardt by 6 months |url=https://www.livemint.com/news/world/uk-extends-covid-19-vaccine-supply-deal-with-india-s-wockhardt-by-6-months-11612953273999.html |work=Mint |date=2021-02-10 |language=en}}</ref><ref>{{cite news |title=Wockhardt: the company helping to vaccinate Britain |url=https://www.ft.com/content/9e914600-44ad-4901-8ef5-e7a5d2b0b744 |access-date=28 June 2021 |work=Financial Times}}</ref>
In August 2021, Wockhardt announced that it signed an agreement with Dubai-based Enso Healthcare and Russian firm Human Vaccine LLC to contract manufacture the Sputnik V and Sputnik Light vaccines in India.<ref>{{cite news |title=Wockhardt to produce, supply Sputnik V, Sputnik Light Covid vaccine |url=https://www.livemint.com/companies/news/wockhardt-to-manufacture-sputnik-v-sputnik-light-covid-vaccine-11628828717909.html |access-date=21 September 2021 |work=mint |date=13 August 2021 |language=en}}</ref>
==Mergers and acquisitions== 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 Pharmaceuticals, US (2007);<ref>{{cite news |url=https://www.reuters.com/article/idUSBOM9529820071024 |title=UPDATE 1-Wockhardt buys US Morton Grove for $38 mln |newspaper=Reuters |date=24 October 2007 |via=www.reuters.com}}</ref> and Negma, France (2007).<ref name="birlaa"/> Wockhardt's debt following the acquisitions was close to Rs 38 billion, and Habil Khorakiwala quit as managing director.<ref>{{cite news |url=http://www.business-standard.com/india/news/newsmaker-habil-f-khorakiwala/353842/ |title=Newsmaker: Habil F Khorakiwala, Scientist in a hurry |author=Shobhana Subramanian |newspaper=Business Standard India |date=3 April 2009 |publisher=Business Standard}}</ref>
On 31 March 2009, the board of directors approved the appointments of Habil Khorakiwala's sons Murtaza Khorakiwala and Huzaifa Khorakiwala as managing director and executive director respectively.<ref>{{Cite web |title=Wockhardt {{!}} Who we are {{!}} Board of Directors |url=http://www.wockhardt.com/who-we-are/directors.aspx |access-date=2022-11-05 |website=www.wockhardt.com}}</ref>
==Philanthropy and education== [[File:WOCKHARDT 5.jpg|thumb|Wockhardt Global School in Aurangabad]] * Wockhardt Foundation * Wockhardt Global Schools
==In popular culture== {{See also|Lean (drug)}} Wockhardt is known for producing cough syrup with the sedative promethazine and the opiate codeine, used in the recreational street drug lean, which is sometimes referred to as "Wock", short for Wockhardt.<ref>{{cite news |last1=Bella |first1=Timothy |title=Hip-Hop's Unlikeliest Icons: Promethazine Codeine Syrup Manufacturers |url=https://www.bloomberg.com/news/features/2017-03-09/hip-hop-s-unlikeliest-icons-promethazine-codeine-syrup-manufacturers |access-date=17 May 2022 |work=Bloomberg |date=9 March 2017 |language=en}}</ref>
==Good Manufacturing Practice violations==
In 2013, the United States Food and Drug Administration uncovered widespread fraud in Wockhardt's production of generic medications, such as contamination of injectable drugs in violation of good manufacturing practice. The agency responded by restricting the company's ability to export drugs from its manufacturing plant in Aurangabad, India. Wockhardt officials responded by repeatedly threatening the involved FDA inspectors.<ref>{{Cite book |last=Eban |first=Katherine |title=Bottle of Lies |date=2019 |publisher=HarperCollins |isbn=9780062338785 |pages=1–6, 304–307}}</ref>
==See also== * Wockhardt Hospitals * Monginis
==References== {{Reflist}}
==External links== * [http://www.wockhardt.com/ Official website] * [https://wockhardtglobalschool.com Wockhardt Global School]
{{Authority control}}
Category:Pharmaceutical companies of India Category:Manufacturing companies based in Mumbai Category:Companies listed on the Bombay Stock Exchange Category:Companies listed on the National Stock Exchange of India Category:1960 establishments in Maharashtra Category:Indian companies established in 1960 Category:Pharmaceutical companies established in 1960