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Torrent Pharmaceuticals Ltd share price today (on 16 April 2024).

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BSE: 500420 | NSE: TORNTPHARM | ISIN: INE685A01028 Market Cap: [Rs.Cr.] 5,820 | Face Value: [Rs.] 5 Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

Torrent Pharmaceuticals Ltd is one of the leading pharmaceutical companies having presence in Indian and global markets. The company is a dominant player in the therapeutic areas of cardiovascular (CV) and central nervous system (CNS) and has achieved significant presence in gastro-intestinal, diabetology, anti-infective and pain management segments. The company has their presence in 50 countries and has nine wholly owned subsidiaries in markets of Europe, United States, Latin America and Asia Pacific.
The company has the world class manufacturing facilities located at Indrad in Gujarat and Baddi in Himachal Pradesh. Their manufacturing facilities at Indrad, Gujarat, comply with WHO, cGMP, MHRA and TGA norms and have received ISO 9001, ISO 14001 and OHSAS 18001 (Occupational Health and Safety Management System) and ISO/IEC- 17025 certifications. The Baddi facilities has a capacity to manufacture 3600 million tablets, 400 million capsules and 18 million Oral Liquid bottles, per annum and would cater to the domestic formulations requirement. Also, the company has a modern and well-equipped state-of-the-art R&D Centre, built with an investment of US $ 40 million.
Torrent Pharmaceuticals Ltd, the flagship company of the Torrent Group was incorporated in the year 1972. In the year 1980, their started their first manufacturing facility at Vatva and they received their first export order in the year 1983. In the year 1986, they started their second manufacturing plant at Chhatral. In the year 1995, Torrent Gujarat Biotech Ltd plant was commissioned. In the year 1996, the company acquired the Pharma related investments and business of Torrent Exports Ltd and also commissioned the state-of-the-art R&D centre. In the year 1997, India Infusions Ltd was merged with the company. As a part of restructuring, the company formed three new divisions namely, Prima, Vista and Psycan in the year 1999. During the year 2001-02, the company launched 31 new products, out of which 8 were first time launches in India.
The company completed the upgradation and modernization programme for the formulations plant at the total cost of Rs. 48 crore. Also, they acquired a small pharmaceutical company, namely Fornex Industrial Farmaceutica Ltda, later renamed as Torrent Do Brasil Ltda, in Brazil for Rs. 128 lakh. During the year, the company divested their entire 50% equity stake in Sanofi Torrent (India) Ltd to their joint venture partner Sanofi Synthelabo, France. Also, they transferred their entire equity holding of 1,95,04,691 shares in the sick industrial undertaking Torrent Gujarat Biotech Ltd to Torrent Pvt Ltd, a company belonging to the promoter group. During the year 2002-03, the company introduced 28 new products including the line extensions. The company completed the upgradation of bulk drug plant during the year, which was started during the financial year 2001-02. Also, the company incorporated Torrent Pharma GmbH as a wholly owned subsidiary company in Germany During the year 2003-04, the company set up a wholly owned subsidiary company, namely Torrent Pharma Inc in USA with the objective of business development in the large, growing and highly profitable North America generic market.
Also, they introduced 25 new products during the year. During the year 2004-05, the company entered into a License Agreement with Novartis granting global rights for further development and commercialization of its patented AGE Breaker Compound to Novartis. Also, they signed research collaboration agreement with AstraZeneca, another leading global pharmaceuticals company with the aim of discovering a novel drug candidate for the treatment of hypertension. The company incorporated Torrent Pharma Philippines Inc as a wholly owned subsidiary in the Philippines, with a view to tap the huge potential in Philippines. During the year 2005-06, the company successfully completed capacity expansion and consolidation of bulk drug plant at manufacturing unit in Indrad. The company entered into an agreement with Novo Nordisk India Pvt Ltd, a wholly owned subsidiary of Novo Nordisk A/S, Denmark to extend existing contract manufacturing arrangement for manufacture of Human Insulin formulations. During the year, the company introduced 43 new products in the market.
Also, the company launched new divisions AXON and NEURON and expanded their field force in order to tap increasing business opportunities in CNS segment. In April 2006, they launched a new division 'PSYCAN AZUCA' to exclusively cater to the needs of the significant and growing diabetes population in the country. During the year, the company acquired Heumann Pharma GmbH & Co Generica KG (Heumann) of Germany for a cash consideration of euro 3.31 million (Rs.17.20 crores). Heumann, is engaged in the business of marketing generic medicines in Germany under the brand name 'Heumann'. In March 2006, the company incorporated Laboratorios Torrent SA de CV to seek registrations of their products in Mexico and subsequently launch a basket of products in the cardiovascular, central nervous system and oral anti-diabetes area.
In April 2006, the company incorporated Torrent Pharma Japan Co Ltd as a wholly owned subsidiary in Japan, to cover the generic market in the country effectively for future business prospects. During the year 2006-07, the company launched 49 new products in the market. The manufacturing facilities at Chatral received approval from the US Food and Drug Administration for the API (active pharmaceutical ingredient) and oral solid dosage formulations facilities. The company initiated process of setting up of a new Greenfield manufacturing site in the state of Sikkim to support the growth in domestic market. Also, the company incorporated a subsidiary in Mexico, named Laboratorios Torrent SA de CV, as a first step for entry into the lucrative Mexican market. During the year 2007-08, the company launched 52 new products in the market.
They successfully entered the highly competitive US market with launch of Citalopram. During the year, the company undertook capacity expansion of 30% in tablet formulations at Baddi plant and the project is nearing completion. They also completed development for nine molecules for the European Union market and nine molecules for United States market. During the year 2008-09, the company made an investment of Rs. 2.05 crore in the equity shares of their wholly owned subsidiary Laboratories Torrent, SA De CV, in Mexico. In September 2008, the company received the US Food and Drug Administration approval for anti-hypertension drug amlodipine besylate tablets in multiple strengths and in November 2008, their generic, risperidone, in tablet forms of various strengths, also got the approval.

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