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Vetoquinol acquires Wockhardt's veterinary business

29 Jun 2009 Evaluate

French veterinary company Vetoquinol has acquired the veterinary business of pharma company Wockhardt, pipping bigger rivals such as Pfizer and Sanofi Aventi. Wockhardt is re-inventing itself by taking fundamentally strong and positive steps by restructuring and rationalising its businesses to raise fresh capital and gain investor confidence. Although the size of the deal is not announced, it is expected that Wockhardt would get around Rs 175-200 crore, according to sources. In 2008, Wockhardt’s veterinary business had sales of Rs 77 crore, with an EBIDTA (operating profit) of Rs 18 crore. This is the Indian company’s second business sale this month after it sold its German subsidiary Esparma to German company Lindopharm GmbH, for around Rs 120 crore on June 18.

 

Wockhardt, the country’s sixth largest drug company, is sitting on a debt of over Rs 3,500 crore. Of this, about $110 million is on account of FCCB borrowings that have to be replayed by September this year. A group of banks led by ICICI Bank is finalizing a corporate debt restructuring (CDR) for the company and has agreed to give a loan of Rs 500 crore. crackcrack

Wockhardt Share Price

1441.10 35.70 (2.54%)
21-Apr-2026 09:39 View Price Chart
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