Torrent Pharma acquires API unit of Glochem Industries

Acquisition will help pharma firm to vertically integrate its ANDA filings in future

Ahmedabad-based Rs 6,600 crore pharma major Torrent Pharmaceuticals has entered into an agreement with Hyderabad based Glochem Industries to acquire the latter's bulk drug manufacturing unit at Vishakhapatnam along with a few drug master files as a going concern on slump sale basis.

The active pharmaceutical ingredients (API) manufacturing unit of Glochem is approved by the US drug regulator USFDA and the European drug regulatory authorities, and is a multi-product facility with a capacity to manufacture advance intermediates and APIs.

Torrent said in a statement to the Bombay Stock Exchange (BSE) today that the acquisition would be beneficial in company's growth trajectory and will help Torrent Pharma to vertically integrate its abbreviated new drug applications (ANDA) filings in the future.

Torrent already has five formulation manufacturing facilities and with the above acquisition it would now have three API facilities for the regulated markets.

Jinesh Shah, executive director, operations at Torrent Pharma said, "The acquisition of this site will further help in backward integration and scale up of Torrent's manufacturing capacity to meet the growing demand from the international markets."

The facility located at JNPC Parawada district, Vishakhapatnam currently has three blocks for advance intermediate manufacturing and four blocks for API manufacturing. It also has capabilities for an on site development, analytical method development, quality control laboratory and a pilot plant.