Wockhardt becomes the largest in UK

Published: 1-Oct-2003
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Indian pharmaceutical major Wockhardt has acquired UK company CP Pharmaceuticals for £10.85m. CP Pharmaceuticals is a leading supplier to UK's National Health Service, and has a current sales turnover of £34m. This is the largest overseas acquisition by an Indian pharmaceutical company and catapults Wockhardt to the ranks of UK's top 10 generic pharmaceutical companies. It also, Wockhardt claims, makes it the largest Indian pharma company in UK. With a combined UK business of more than £50m, Wockhardt now has a critical size for a push into the larger EU market. The company is expected to leverage its research and technology focus and manufacturing strengths to drive CP's European business. With this acquisition, 53% of revenue comes from international markets.

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