Torrent Pharma to acquire Glochems Visakhapatnam facility
The Dollar Business Bureau Ahmedabad-based Torrent Pharma announced that it signed a deal to take over the Glochem Industries’ Visakhapatnam facility. The Pharmaceutical firm broke the news on Thursday. However, the firm did not disclose the value agreed in the deal. Torrent, in a regulatory filing, said that an agreement has been inked to purchase the manufacturing plant of Glochem with some Drug Master Files. API manufacturing facility of Visakhapatnam belongs to Hyderabad-based Glochem. The purchase of the plant will not only help Torrent to beef up the manufacturing capacity and meet global demand, but also meet the backward integration of its Abbreviated New Drug Application, said Jinesh Shah, Torrent Pharma Executive Director (Operations). ANDA is the filing undertaken by a pharma firm in a bid ...
Torrent Pharma reports Rs.357 cr net profit in Q4
The Dollar Business Bureau Torrent Pharmaceuticals Ltd, a flagship company of Torrent Group, reported a consolidated net profit of Rs.357 crore in the fourth quarter ended March 31 2016, primarily on account of strong sales in the US marketplace. In a BSE filing, the company on Monday, said that it had posted a net profit of Rs.130 crore for the period January-March 2016. The overall income from operations closed at Rs.1,499 crore for the given quarter, as compared to Rs.1,154 crore in same period, a year ago. Also, the company’s consolidated net profit stood at Rs.1,722 crore for the whole fiscal year 2015-16, as compared to Rs.751 crore in the previous fiscal year. During the last fiscal, the overall income from operations was recorded at Rs.6,676, while ...
