Wockhardt to set up biotech park

MUMBAI, AUG. 18. Pharma major Wockhardt is setting up a biotechnology park in Aurangabad, Maharashtra, to meet increased demand for its biotech products in domestic and international markets.

Two products - Hepatitis B vaccine and Erythroproeitin - were already in the market and many others are under development, Wockhardt informed the Bombay Stock Exchange.

Biotechnology has been a thrust area for Wockhardt's R&D and the company has a team of 30 scientists pursuing the objective of developing innovative recombinant biotechnology products for the global and Indian markets, it added.

The company has spent over Rs. 200 crores on R&D over the last five years alone, it said, adding, it has been company's objective to pursue various acquisition proposals of companies and brands in India and abroad.

- PTI

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Section  : Business
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