Torrent Pharmaceuticals announced that the United States Food and Drug Administration (USFDA) conducted a routine good manufacturing practices (GMP) inspection at its formulation manufacturing facility located in Pithampur, Madhya Pradesh.
The GMP inspection was conducted from 16 September to 20 September 2024. At the conclusion of the inspection, the USFDA has issued a Form FDA 483 with one observation which is procedural in nature.The company said that it will respond to the USFDA within the prescribed timeframe and will work closely with the Agency to address the observation at the earliest possible time.
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 20.9% to Rs 457 crore in Q1 FY25 as compared with Rs 378 crore recorded in Q1 FY24. Revenue from operations rose 10.34% year on year (YoY) to Rs 2,859 crore in the quarter ended 30 June 2024.
The scrip advanced 2.97% to Rs 3,450 on the BSE.
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