Mumbai, October 19, 2005

Pharmaceutical and biotechnology major Wockhardt Limited has reported a 17% rise in net profit for the third quarter ended September 30, 2005. Sales at Rs. 359 crores showed a 12% increase over the corresponding quarter of 2004.

Operating profit increased by 9% to Rs. 88 crores during the quarter. Operating margins stood at 24.3% for the period.

Nine months net profit climbed 23% to Rs. 184 crores, on sales of Rs. 1,046 crores.

“Our numbers reflect the company’s resilience and global growth story amid changing undercurrents in the global pharmaceutical industry,” Wockhardt chairman Habil Khorakiwala said. “We are fully committed to higher growth over the next five years. It will come organically as well as through acquisitions,” he said.

United States - Alliance with Perrigo
Wockhardt’s US business grew by 41% in the third quarter. The company entered into a strategic alliance with Perrigo, one of the largest players in the US OTC market, for the distribution of famotidine and ranitidine. Commercial supplies of cefuroxime axetil started during the quarter.

Europe - Launches terbinafine in UK
Sales of Wockhardt UK grew by a healthy 11% in local currency during the quarter. For the first time, Wockhardt UK launched a new product (terbinafine) on the first day of the brand going off patent. The German business posted a 26% sales growth.

Biotech SBU - Wins insulin tender in Chile
The newly created Biotech Strategic Business Unit won a tender for supply of insulin to Chile. Wockhardt has received company registration for its biopharmaceuticals in the Gulf Cooperation Council (GCC) countries. Five more overseas registrations were received during the period, taking the total approvals so far to 25.

India - Wepox tops EPO prescriptions
Wepox, the erythropoietin (EPO) brand, became India’s No. 1 prescribed EPO during the period. Wosulin, the recombinant insulin brand, increased its share to 30% of the new prescriptions. The diabetology portfolio grew by 60%. Overall, Wockhardt’s formulations business in India grew by 10%, against 7% registered by the industry during the period.

New website launched - Interactive, user-friendly
Wockhardt has launched a revamped website, www.wockhardt.com. The interactive and user-friendly new website reflects the company’s global standing and provides a host of information to stakeholders.

Wockhardt Limited is a technology-oriented pharmaceutical and biotechnology company with an active multi-disciplinary research programme employing 400 scientists. Its new drug discovery programme has yielded several promising new molecules, one of which has entered Phase II human clinical trials. The US and the European Union contribute to half of Wockhardt’s turnover.

View Consolidated Unaudited Financial Results for the Quarter ended 30 September, 2005