Wockhardt Eyes Rs 400-Crore Revenue From Pneumonia Antibiotic Miqnaf
Miqnaf is an antibiotic for treatment of community-acquired bacterial pneumonia, including those caused by multi-drug resistant pathogens.
Wockhardt Ltd. expects around Rs 400 crore revenue from its new generation oral antibiotic, Nafithromycin, in the next two to three years, according to Founder and Chairman Kabil Kharoiwala. The drug, which recently secured approval from the Central Drugs Standard Control Organisation, is used in the treatment of community-acquired bacterial pneumonia in adults.
The antibiotic will be available under the brand name Miqnaf. Wockhardt Ltd. plans to launch Miqnaf in the next three months.
Speaking to NDTV Profit, Kharoiwala said that the drug has a revenue potential of up to Rs 4,000 crore in the Indian market.
"We will be launching Miqnaf from FY26 beginning, around March-April. So, there will be no revenue whatsoever in FY25. But, in FY26, we expect at least Rs 70-80 crore revenue," Kharoiwala said.
"I think over next two to three years, we should be able to get about 10% of the market potential in India, that is, Rs 4,000 crore," he added.
Miqnaf is an ultra-short, once-a-day, three-day treatment for CABP, including those caused by multi-drug resistant pathogens. The drug has undergone extensive non-clinical and clinical studies, which include human trials in the United States, Europe, South Africa and India over the past 15 years.
After the launch in India, Wockhardt plans to introduce Miqnaf in Saudi Arabia in less than a year. The company has already filed for a fast-track approval.
"That (Saudi Arabia) is where we would be introducing our product. The other places we take generally 12 to 18 months from now on to get the approval and then launch the product. So, we would be launching the product in Latin America, Southeast Asia, Africa, the MENA region and all over the world," Kharoiwala said.
According to the top executive, the new drug will also significantly push Wockhardt's profit margins.
"It will increase the profitability because, in the new molecule, the margins are much better than the generic portfolio. It would be good margin improvement year-on-year for several years," he highlighted.
Shares of Wockhardt Ltd. rose 1.28% on Tuesday to Rs 1,489.95 apiece on the NSE, after touching an intraday high of Rs 1,498 in early trade, as of 11:23 a.m. Meanwhile, compared to a 0.47% rise in the NSE Nifty 50.
