Skip to content
Search

Latest Stories

Wockhardt gets extension for its Covid-19 vaccines supply deal with the UK

Wockhardt gets extension for its Covid-19 vaccines supply deal with the UK

INDIAN pharmaceutical and biotechnology giant Wockhardt on Wednesday(10) said that it has been awarded a six-month extension for its agreement with the UK government to fill-finish Covid-19 vaccines.

This expands the original agreement until August 2022, and the manufacturing will continue to be undertaken at the company's North Wales-based subsidiary CP Pharmaceuticals, the company said.


UK business secretary Kwasi Kwarteng said the extension of the Wockhardt deal will ensure uninterrupted fill and finish capacity for the UK.

"By extending our contract with Wockhardt, we will ensure the UK has uninterrupted fill and finish capacity, guaranteeing we have sufficient supplies to protect the British public in the long term," he said.

Wockhardt Group founder chairman Habil Khorakiwala said: "We are happy to extend our collaboration with the UK Government to make vaccines available and the arrangement brings in a huge sense of purpose and pride, it upholds our ongoing global commitment to fight against an unprecedented pandemic."

Following the visit of UK international trade secretary Liz Truss to India earlier this week, Wockhardt announced further investment in Wrexham, Wales, leading to more than 40 new jobs.

"It brings important investment to the local area, bringing jobs and security to the community as we battle this awful pandemic. Wockhardt's investment shows the strength of our trading ties with India which is a further boost to our already-strong vaccine supply as we build back stronger from coronavirus", Truss said about the investment.

Wockhardt in August 2020 had said in a regulatory filing that it had entered into an agreement with the UK government to fill-finish the Covid-19 vaccines.

On Tuesday(9), Indian IT major Tata Consultancy Services (TCS) also announced to bring 1,500 high-skilled jobs to the UK.

The UK-India trade relationship, worth £23 billion in 2019,

supports industries such as technology and life sciences and

around half a million jobs in each other’s economies. Life sciences

has been a priority sector for both nations.

UK pharmaceuticals exports to India increased by 21.4 per cent to £96.75m in 2019.

During the pandemic, India and the UK kept vital supply chains open, including on vaccine research and the export of nearly three million packets of paracetamol. In 2019-2020, the UK was the largest European market for India’s goods exports.

More For You

Pakistan airspace curbs push up costs for Indian airlines

FILE PHOTO: Passengers stand in a queue before entering the Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo by SUJIT JAISWAL/AFP via Getty Images)

Pakistan airspace curbs push up costs for Indian airlines

TOP Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid escalating tensions over a deadly militant attack in Kashmir.

India has said there were Pakistani elements in Tuesday's (22) attack in which gunmen shot and killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.

Keep ReadingShow less
Campbell Wilson

Air India CEO Campbell Wilson steps down as Air India Express chair

Air India CEO Campbell Wilson steps down as Air India Express chair

AIR INDIA CEO Campbell Wilson is stepping down as chair of Air India Express, the airline’s low-cost subsidiary. He will be replaced by Nipun Aggarwal, Air India’s chief commercial officer, according to an internal memo sent on Tuesday.

Wilson will also step down from the board of Air India Express. Basil Kwauk, Air India’s chief operating officer, will take his place.

Keep ReadingShow less
Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less
UK retailers

For many retailers, this has meant closing stores, cutting jobs, and focusing on more profitable business segments

Getty

6 UK retailers facing major store closures in 2025

In 2025, several UK retailers are experiencing major store closures as they struggle to navigate financial pressures, rising operational costs, and changing consumer behaviours. These closures reflect the ongoing challenges faced by traditional brick-and-mortar stores in an increasingly digital world. While some closures are part of larger restructuring efforts, others have been driven by financial instability or market shifts that have forced retailers to rethink their business strategies. Let’s take a closer look at six major UK retailers affected by these trends.

1. Morrisons

Morrisons, one of the UK's largest supermarket chains, is undergoing a significant restructuring in 2025. The company has announced the closure of several in-store services, including 52 cafés, 18 Market Kitchens, 17 convenience stores, and various other departments. This move is part of a larger strategy to streamline operations and address rising costs. Morrisons’ parent company, CD&R, has been focusing on reducing overheads and refocusing on core services.

Keep ReadingShow less