There is no plan to sell Vitamin B12 business, says Wockhardt

By Our Corporate Bureau | 24 Jun 2003

Mumbai: Referring to a television channel report that it is in talks with DSM of the Netherlands to sell its vitamin B12 business, Wockhardt chairman Habil Khorakiwala says: "No Wockhardt representative has ever met DSM for this purpose. The report is based on imagination and assumptions and has no bearing on reality."

He says Wockhardt is fully committed to expand its pharmaceutical and biotechnology business both in India and in the international markets. "We have become a global player in the vitamin B12 business since our acquisition of Merind and we are now garnering a significant market share on a global basis."

"In fact, before our acquisition, less than 5 per cent of vitamin B12 was exported. Today, in spite of a four-fold expansion, international sales constitute over 80 per cent of our vitamin B12 business," says Khorakiwala.