Torrent scouts for acquisitions in US

The Baroda-based Torrent Pharmaceuticals is scouting for acquisition of suitable pharmaceutical companies in the regulated markets of the US and Europe. It is evaluating various companies in these markets, but has not finalised any, company sources said.

Torrent was reported to be in fray to acquire Merck's Generics, along with Ranbaxy and Cipla, according to some news reports. Company sources declined to comment on its interest in Merck's Generics, reportedly valued over $6.5 billion.

"We are scouting for prospects and obviously would look at the right kind of valuations before finalising our targets. We would be looking at segments that complement our current business. Drugs for cardio-vascular diseases (CVD) and central nervous system (CNS) have been our strengths, but we would also like to explore segments such as gastro-intestinal and anti-infectives. Funds would not be a constraint if we are able to identify the right-sized, complementary fit," said a senior official.