Wockhardt (WOCKPHARMA) Status update summary

Strategic transformation and business focus

• Transitioned to an innovation-led healthcare group, emphasizing long-term value creation, operational excellence, and a strong pipeline in novel antibiotics and biosimilars.

• Core business pillars: pharmaceuticals (75% of revenue), biosimilars/biotech, and novel antibiotics, supported by eleven manufacturing facilities and two R&D centers.

• Exited loss-making U.S. generics, optimized supply chain, and implemented over 50 cost management and AI-led S/4HANA projects.

• EBITDA margin improved from 5.4% to 18.6% over three years, with a focus on high-margin products.

• Net debt-to-equity at 0.1, with INR 662 crores in cash equivalents.

Financial performance and growth outlook

• FY26 income reached INR 3,373 crores, EBITDA of INR 630 crores (51% growth), and PBT at INR 238 crores.

• Specialty business grew 23%, with Emrok showing ~50% growth and biotech business up 27%.

• Regional growth: UK +13% YoY, emerging markets +35% YoY, India +8% YoY.

• Biosimilar/biotech business doubled insulin and 1.5x glargine production.

• Biotech business expected to double in 24–36 months, with five pipeline products.

Zaynich launch and commercialization strategy

• Zaynich, first Indian research product approved by U.S. FDA and CDSCO India, positioned as a once-in-a-generation antibiotic for resistant Gram-negative infections.

• Demonstrated high clinical cure rates in global Phase III trials and strong safety profile.

• U.S. launch led by an experienced team, focusing on rapid hospital penetration, deep clinical adoption, and economic value demonstration.

• U.S. pricing set at $1,200–$1,500 per day, with India pricing at 75–80% discount.

• Manufacturing for U.S. from Europe (FDA-approved), for India/emerging markets from India or Europe based on regulatory timelines.