Workhardt Bio AG (part of the Indian company Workhardt – see graph above) recently listed on the Berne Exchange under the ticker symbol WBIO. Intially 2,348 million shares (5%) were allocated for the IPO (initial public offering) at CHF 5.05. Here’s a link to the source of that news from the Swiss Indian Chamber of Commerce (whose source is the BSE).
As information is pretty scarce with regard to the Swiss listed subsidiary here’s the link to the prospectus they submitted to Berne Exchange: 131202-wockhardt-bio-prospectus
The BSE (Bombay Stock Exchange) listed Workhardt has its annual reports published on the BSE website (the link leads to the 2013 annual report). The report is helpful in identifying business developments and risks of the business.
The company has very focused approach to its Biotechnology. In Biotechnology the company has made significant progress in developing biosimilars of Insulin and its analogs. Regulated markets are currently underway in developing biosimilar launch guidelines, 2 products (Insulin and Glargine) have already been launched in India as well as have product registrations in 34 countries for Insulin and 5 for Glargine.
In this context of biosimilars there was an interesting article in the Frankfurter Allgemeine Zeitung (FAZ) today, written by Sebastian Balzter, that highlights the high costs associated with bringing biosimilars (generic versions of the biotech drugs which lose patent protection) to market and how it is taking longer to bring them to market than initially expected. He also discusses evidence that the biosimilars that do come to market are ‚only‘ 20-30% cheaper than the original versions, thus making them a harder sell.
I’ll be adding to this post as and when interesting information becomes available or compiled by me.