Wockhardt To Expand Abroad

Wockhardt is clearly to expand the product portfolio through more and more buyouts. Not surprising therefore that barely six months after taking control of French company Negar for $150 million, Wockhardt has struck again this time buying out Morton Grove of the United States for $38 million. Morton is the largest in 31 products in US, market leader in 13 of them, with one third of its business branded, rest generic. While the acquisition strategy for Wockhardt has clearly paid off, Cipla and Lupin also joined the party with a spurt in margins. This is mainly due to their inroads overseas. Wockhardt has not only posted good numbers but has also surprised the markets with an inorganic acquisition of Morton Grove of US.