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19-Jan2018

Torrent Pharmaceuticals advances on acquiring BPI

Torrent Pharmaceuticals is currently trading at Rs. 1436.70, up by 12.45 points or 0.87% from its previous closing of Rs. 1424.25 on the BSE.

The scrip opened at Rs. 1440.00 and has touched a high and low of Rs. 1442.00 and Rs. 1429.00 respectively. So far 1,401 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1572.10 on 31-Mar-2017 and a 52 week low of Rs. 1143.50 on 29-May-2017.

Last one week high and low of the scrip stood at Rs. 1445.05 and Rs. 1372.00 respectively. The current market cap of the company is Rs. 24,231.56 crore.

The promoters holding in the company stood at 71.25%, while Institutions and Non-Institutions held 18.52% and 10.24% respectively.

Torrent Pharmaceuticals has acquired Bio-Pharm, Inc. (BPI), a generic pharmaceuticals and OTC Company, based in Levittown Pennsylvania, USA. This acquisition is an important step for increasing Torrent's presence in the United States, is consistent with our strategy of dosage form diversification, and provides us with new capabilities including manufacturing and R&D presence in the USA. Torrent plans further investments to expand the BPI facilities including R&D capabilities and will increase the number of product filings from BPI.

Established in 1992, BPI has a proven track record in the research & development and manufacturing of oral solutions, suspensions and suppositories. Its 75,000 square feet USFDA registered facility has manufacturing capabilities for controlled substances which can be manufactured in US only as per Government guidelines.  To date, BPI has 10 approved ANDAs, 10 ANDAs under review at the FDA for itself and its partners and has an additional 17 products under development.

Torrent Pharmaceuticals is Flagship Company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.



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