Wockhardt globalisation drive has gathered further momentum. Recently our company entered into majority joint ventures in Mexico and South Africa, and established a wholly owned subsidiary in Brazil.

In Mexico, Wockhardt signed a joint venture agreement with Representaciones E Investigaciones Medicas, SA de C.V., one of Mexico's leading national companies. Wockhardt Mexico S.A. de C.V., 51 % owned by Wockhardt and 49% by the local firm, will initially market all forms of insulins manufactured by Wockhardt. Later on, it will market other diabetology and biopharmaceutical products. Mexico's pharmaceutical market is valued at $7 billion, much bigger than India, and is growing at 10%. Wockhardt South Africa pty Ltd. is a 51:49 joint venture between Wockhardt and Pharma Dynamics, the 10th largest generics pharmaceutical company in South Africa. The joint venture will use the regulatory, sales and marketing expertise of Pharma Dynamics to commercialise Wockhardt's growing pharmacutical and biopharmaceutical portfolios. Wockhardt Farmaceutica do Brasil Ltda is Wockhardt's newly formed sales and marketing subsidiary in Brazil. It will market its pharmaceutical and biopharmaceutical products. Brazil, with a population of 150 million, is a $5 billion pharmaceutical market.

These developments mark new milestones in Wockhardt's global journey. We now have a ground presence in almost all major markets of the world.