Torrent acquires dermatological product maker Zyg Pharma

Torrent Pharmaceuticals Limited has signed an agreement to acquire 100% stake in Zyg Pharma Private Limited - a company engaged in manufacturing various dermatological formulations like creams, ointments, gels, lotions, solutions – for an undisclosed amount.
 
Zyg Pharma is part of the Encore Group, promoted by the Merchant family and is engaged into specialty pharmaceutical business for over 50 years. The manufacturing facility is located at Pithampur (Indore) and is approved by various regulatory authorities including US FDA, TGA Australia. The company has capabilities for on site development, analytical method development and QC laboratory with separate areas for chemical, instrumental and micro sections.
 
In line with its strategy to diversify into new therapy segments, the acquisition will help Torrent to strengthen its position in niche dermatological segment especially in the developed markets like US and Europe. The company has been a manufacturing partner to several international companies in India and it has also build a successful international business through partners in regulated markets as well as in emerging markets.
 
Torrent would fund the acquisition through internal accruals.
 
Torrent Pharma, with an annual turnover of over Rs 4200 crores, is the flagship company of the Torrent Group. The company’s manufacturing plants located at Indrad, Baddi & Sikkim have facilities to produce formulations and bulk drugs. The plants are approved by authorities from various regulated and semi regulated markets like US, UK, Brazil, Germany, Australia and South Africa.