Hope to launch diabetic NCE by next financial year: Torrent Pharma's Mehta

We would also look into distribution opportunities to bring some of these products into the market, said Mehta

Ahmedabad-based Torrent Pharmaceuticals is gearing up to launch its first novel drug in diabetes in the second half of the next financial year. A novel chemical entity (NCE), which was under development for 10 years, is now in Phase-3 clinical trials. Aman Mehta, chief marketing officer, India business, Torrent Pharmaceuticals, says the company is evaluating potential acquisition targets over the last few quarters. He tells Sohini Das, in an interview, that the group’s succession planning among the cousins is being worked out. Edited excerpts:
 
Torrent has limited presence in Covid therapies. What are your plans?
 
Torrent has been predominantly a chronic therapies-focused company, and as a result, our R&D and manufacturing, among others, is geared up towards developing this segment. Cardiac, diabetic and gastroenterology are the focus areas for many years. Given this background, partnerships would be best for us in the Covid-19 therapies segment. At the beginning of the second wave, we quickly recognised the importance of Covid therapies, going ahead. That is why within a short period of time, we could enter into some partnerships like the one with Eli Lilly. Many others are also under discussion for therapies ranging from mild cases to hospitalised cases. There are a number of opportunities in the licensing space. We would also look into distribution opportunities to bring some of these products into the market. Oral Covid products will be a key focus area for us. This is where we can leverage our manufacturing capabilities. Vaccines are not a segment we have been present in. Distribution and commercialisation partnerships are potential areas we can look at.

 

After Elder and Unichem, do you still have an appetite for inorganic growth?
 
We are open to inorganic growth. There are segments and therapies where we are not present yet, and inorganic opportunities will help us gain faster access to these therapies. We are not very active in medical dermatology for example. We are present in cosmetic dermatology. Even in the vitamin space, our presence is mainly through the Shelcal brand. There are opportunities in the multivitamin space. We would prefer to make brand acquisitions.
 
What is the update on new drug research?
 
India has been our core focus market for years now, and past acquisitions have strengthened our position. We have a healthy pipeline of products in almost all therapy areas. Our diabetic NCE is expected to see the light of the day in the second half of next financial year. Phase 3 clinical trials of this product are on right now. Hopefully, it will be over in the next eight to nine months. This would be a promising launch for us. The NCE has been developed with 10 years of research at Torrent. This would be the first NCE from Torrent Pharmaceuticals. This is a completely new class of drugs which address diabetes and associated complications with diabetes. With diabetes comes an elevated risk of cardiovascular complications. This molecule is looking to address these risks. The diabetes market is one of the fastest growing therapy areas, and thus there is significant room for new therapies.

 
Any new launches in the Indian market?
 
In vitamins, we are looking at brand extensions of the Shelcal brand. There are other vitamins which are now prescribed and we would look at it. This trend is cyclical, but the awareness about vitamins has grown tremendously in the last one year. Apart from this, there are serious concerns around mental health now. Therefore, the psychiatric and the CNS (central nervous system) therapies, too, are in focus now. There would be much wider access to mental health now.
 
Is Torrent group’s succession planning done?
 
Succession planning is not concrete as of now. We are still quite flexible within the organisations. For example, I was with Torrent Power earlier. All of us are keen on all businesses. Whatever opportunities come, we are open to rotation. For now, I am focused on the pharma business while two of my cousins, Jinal and Varun (Mehta), are in the power business. There is also the gas business, which is now a third group business that is growing well. All of us are quite well set in these roles. Succession planning in a general sense has certainly been thought of and is in process. It will be an ongoing process and we do not expect to make any formal announcements soon.