Torrent Pharmaceuticals announced that it has entered into an agreement to acquire three anti-diabetes brands from Boehringer Ingelheim International GmbH (BI).
The brands include Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin) and Xilingio (empagliflozin + linagliptin), which are used in the treatment of type 2 diabetes.Empagliflozin is a novel sodium glucose co-transporter-2 (SGLT-2) inhibitor which is indicated for glycemic control in adults with type 2 diabetes mellitus. The market for SGLT-2 inhibitors is valued at Rs 3,235 crore and the SGLT-2 inhibitors are growing faster than the diabetes market at 25% CAGR.
As per the International Diabetes Federation, India has the second largest diabetes patient base in the world with an estimated 74.2 million adults (20-79 years age group) as of 2021. This is expected to increase to almost 125 million patients by 2045. According to AWACS MAT October 2024 data, the Indian diabetes medications market is valued at Rs 19,912 crore, growing at 7.7% CAGR over the last 4 years.
The acquisition is expected to be completed in March 2025. The company has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.
Torrent Pharmaceuticals is the flagship company of the Torrent Group. It is ranked 6th in the Indian Pharmaceuticals Market and is amongst the top five in the therapeutics segments of cardiovascular (CV), gastro intestinal (GI), central nervous system (CNS), vitamins minerals nutritional (VMN) and cosmo-dermatology.
The companys consolidated net profit increased 17.35% to Rs 453 crore on 8.6% rise in revenue from operations to Rs 2,889 crore in Q2 FY25 over Q2 FY24.
The scrip shed 0.31% to Rs 3,339.25 on the BSE.
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