Under the previous agreement, the joint venture covered a series of 15 Wockhardt products to be launched in the US market, between February 1999 and 2003. But under the present circumstances, the Indian partner has decided not to launch many of the products. "We have realised that not all of those 15 products are viable in the US markets," said Mr Habil Khorakiwala, chairman and managing director of Wockhardt, while speaking to The Financial Express.

Wockhardt has been discussing with its US partner, to eliminate some of the products. Clarifying his stand on the JV, Mr Khorakiwala says " Most of those 15 products were in the generics and bulk segments and we are now shifting our strategy to technology driven products, and that is why we are seeking new partnerships." The company is now looking at hi-tech drug delivery products, for the western markets and looking for a new partner to market the same. "We are in talks with several companies for the same, but we are yet to finalise any deal," said Mr Khorakiwala.

Sidmark is one of the most preferred supplier for its product categories and has a portfolio, which includes Novel Drug Delivery Products, off-patent generics, aerosols etc. "

Sidmark's arrangement with Wockhardt based on sharing both costs and profits and product labels, which will carry the names and logos of both the partners, was unique and should have helped Wockhardt in establishing its name in the US market," says a Mumbai-based analyst. "We see no reason why Sidmark should not be a choice to market Wockhardt's technology-driven products," he adds.

The joint venture started commercial operations in May 1999, with the launch of Wockhardt's Ranitidine tablets and in August 2000, the cardiac drug Enalapril Maleate was launched in the US market. The JV was supposed to market products in segments like cardiac, gastro-intestinal, anti-infectives and neuro-psychiatry. The total size of these markets was estimated at $10.4 billion and the Wockhardt-Sidmark joint venture, had earlier set a target of $100 million of sales.