Wockhardt makes latest US move

By staff reporter

- Last updated on GMT

Related tags: Pharmacology

Indian generics specialist Wockhardt is continuing its drive to
strengthen its foothold in the US market, snapping up US firm
Morton Grove Pharmaceuticals.

Wockhardt has bought up the Illinois-based liquid generic and speciality dermatology company, opening up the US generics market with a ready made portfolio of 31 products, 13 of which occupy the number one spot in their respective markets, according to Wockhardt. This is the third international acquisition the rapidly expanding Indian firm has made in the last 12 months, evidence of the firm's globalisation and plans to establish itself with a presence in key markets worldwide. October last year saw the company's fourth European acquisition in the form of Pinewood, Ireland's largest generics company, for $150m, which gained the company the largest supplier of liquid generics to the UK. In May, the company bought Negma, the fourth largest independent pharmaceutical company in France, for $265m. The move established Wockhardt as the largest Indian pharmaceutical company in Europe. Yesterday's news of the Morton Grove acquisition is further evidence of Wockhardt's active programme to drive growth in the US market, with the US business currently growing at a rate of 50 per cent according to the firm's website. Morton Grove currently has revenues of approximately $52m, driven primarily by its Lindane range of dermatological products. The company has expertise in a range of dosage forms, from tablets and capsules to liquids and injectables. The company currently operates a 125,000 sq ft manufacturing facility with fully integrated production and packaging lines, and boasts a dedicated sterile suite solely for the production of prescription inhalation solutions and nasal sprays. The firm currently owns, manufactures and markets 52 prescription ANDA drugs, 33 prescription non-ANDA drugs and 3 over-the-counter ANDA products, with 11 ANDAs under review. Morton Grove's R&D group focuses on developing generic versions of branded liquids and specialty pharmaceuticals, proprietary drug delivery systems and dosage forms, product and packaging enhancements, and liquid companions to oral solid doses.

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