Torrent Pharma gains 3% in a weak market on healthy margins in June quarter

The company has launched baricitinib during the quarter and is currently conducting clinical trials for molnupiravir; more partnerships under evaluation to widen Covid portfolio

Shares of Torrent Pharmaceuticals were up 3 per cent at Rs 3,106 on the BSE in the intra-day trade on Wednesday, in an otherwise weak market, after the company reported healthy margins at 34 per cent for the quarter ended June 2021 (Q1FY22).

The stock of the drug maker rebound 7.5 per cent from its intra-low of Rs 2,890. It had hit a 52-week high of Rs 3,121.45 on Tuesday, July 26. In comparison, the S&P BSE Sensex was down 0.87 per cent or 456 points at 52,123 at 11:28 am.

Torrent Pharma’s Q1FY22 revenues grew 3.8 per