Quarter on Quarter improvement in EBITDA in current year.

The Company recorded substantial growth in Revenue (up by 12% over previous corresponding quarter) and in EBITDA at Rs.114 crore compared to a profit of Rs.56 crore in the corresponding quarter of the previous year. There is Revenue growth of 21% in 9MFY22 over the previous year and substantial improvement in EBITDA at Rs.331 cr.

Rights issue - Plan to raise upto Rs. 1,000 Crore

The objective of the Issue is to, inter alia, meet the Company's financing needs for repayment of subordinated debt due, financing research and development initiatives, general corporate purposes and/or such other use of proceeds as may be permitted under the applicable laws.

The rights issue provides shareholders who have supported us all these years, an opportunity to further participate in Wockhardt's Strategic Plan for future growth. The rights issue proceeds will also strengthen Wockhardt's balance sheet, enhance its credit profile and provide financial flexibility to capture future growth in line with its Strategic Plan.

RDIF and Wockhardt partner to produce Sputnik V and Sputnik

Light vaccines against COVID-19

The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), and Wockhardt Limited, a global pharmaceutical company headquartered in India, have partnered to produce and supply Sputnik V and Sputnik Light vaccines against COVID-19. The agreement was reached under the aegis of Enso Healthcare (part of Enso Group), RDIF's coordination partner for sourcing Sputnik V vaccines in India.

The single dose Sputnik Light vaccine demonstrated 79.4% efficacy according to analysed data taken from 28 days after the injection was administered as part of Russia's mass vaccination programme.

One-shot Sputnik Light vaccine demonstrates 70% efficacy against infection with the Delta variant during the first three months after vaccination. The vaccine is more than 75% effective among subjects under the age of 60. Sputnik Light also provides much higher efficacy against severe diseases and hospitalisations.

Sputnik V demonstrates 83.1% efficacy against the Delta variant of coronavirus - higher than many other vaccines. The vaccine shows 6 times reduction of infection risk. Sputnik V is also

94.4% effective against hospitalisations with 18 times reduction in hospitalisation risk.

Sputnik V is based on a proven and well-studied platform of human adenoviral vectors and uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots.

About Wockhardt

Wockhardt is a research based Global Pharmaceutical and Biotech company. Wockhardt's New Drug Discovery programme has focussed on unmet need of Anti-bacterial drugs that are effective against the menace of untreatable superbugs. Wockhardt is the only company in the world where USFDA has given QIDP Status (Qualified Infectious Disease Product) for 6 of our Anti-bacterial discovery programmes - 3 of them are Gram Negative and 3 Gram Positive effective against untreatable 'Superbugs'. It has a comprehensive Drug Discovery team and clinical organisation.

Wockhardt is employing over 5000 people and 27 nationalities with presence in USA, UK, Ireland, Switzerland, France, Mexico, Russia and many other countries. It has manufacturing and research facilities in India, USA & UK and a manufacturing facility in Ireland. Wockhardt has a significant presence in USA, Europe and India, with 81% of its global revenues coming from international businesses.

Contact:

Tel: +91-22-2653 4444

Original post:
Wockhardt Limited, the Pharmaceutical and Biotechnology major, reported its 3rd Quarter Results for Financial Year 2021-22, today - marketscreener.com