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Wockhardt doubles vitamin capacity, becomes world's third largest producer

Drugmaker Wockhardt Ltd said on Thursday it had doubled capacity for vitamin B-12, a key ingredient in multivitamin products and animal feed, and was now the third-largest producer in the world.

The Bombay-headquartered Wockhardt, which makes a wide range of medicines, said in a statement its capacity for the vitamin B-12 bulk drug, which goes into capsules and injections, now stood at 3.5 tonnes per annum.

Vitamin B-12 is a high-value product, selling at over $5 a gram.

Wockhardt chairman Habil Khorakiwala said that his company's capacities were behind only Franco-German giant Aventis Pharma and a Chinese firm he did not name.

He said he saw revenue of Rs 500 million from the drug for the year to December, 60 per cent coming from exports.

"Next year, the first full year when the new capacities will be on stream, we see sales of Rs 900 million, with all incremental sales going towards exports," he said.

The company reported overall sales of Rs 1.69 billion in April-June and a net profit of Rs 227 million.

Wockhardt shares traded up 0.86 per cent at Rs 350.5 on Thursday afternoon, while the Sensex was up 0.18 per cent.

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