Wockhardt Ltd. has filed four patents in the US for novel drug delivery systems (NDDS). The company's patent claims have been accepted. It plans to file abbreviated new drug applications (ANDAs) for these products over the next six months. The four products include three cardiovascular products and one antiulcerant in the list.
Wockhardt is the third largest Indian pharmaceutical company in the domestic market. It has a presence in the health care business comprising bulk drugs and formulations. The company also has a presence in IV fluids, dietic foods, hospitals and agro products. It is the sole domestic manufacturer of Dextropropoxyphene and Captropil, both bulk drugs and accounts for 26% of the world's production.
Surprisingly, the chairman of the company has clarified that the NDDS products are identical to the existing products and hence there was no possibility of a major licensing deal. The company is in talks with generics players for the supply of NDDS forms.
The company's push into the US generics markets will help it capitalise on the higher price realisations that prevail there. The move also brings to light the company's research initiatives. As Wockhardt already has a tie up with a US based manufacturer for marketing its products in the US, the company has on earlier occasions avoided the large costs that are involved in setting up a marketing and distribution network. In case of new products, the company is likely to adopt the same route. This strategy lets the company participate in the market without having to commit large funds.
Analysts have rated the stock as a 'BUY' in view of the company's decision to focus on the therapeutic segment in the domestic market. The move will help the company in operating in the post GATT era. Wockhardt has also entered into marketing agreements with a US firm to distribute its products in the US. It has bought a UK based company to enhance its presence in the European markets.
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