Torrent Pharmaceuticals

Torrent Investments sells 2.9% stake in Torrent Pharma for Rs 3,086 cr

Torrent Investments, a promoter entity of Torrent Pharmaceuticals, on Wednesday trimmed a 2.9 per cent stake in the company for Rs 3,086 crore through open market transactions. According to the bulk deal data available with the BSE, Torrent Investments Pvt Ltd sold a total of 99.44 lakh shares or 2.94 per cent stake in Torrent Pharmaceuticals. The shares were sold in the price range of Rs 3,103.07-3,104.40 apiece, taking the combined transaction value to Rs 3,086.37 crore. After the stake sale, the combined holding of promoters of Torrent Pharmaceuticals has come down to 68.31 per cent from 71.25 per cent. Details of the buyers of Torrent Pharmaceuticals' shares could not be ascertained on the BSE. Last week, Torrent Pharmaceuticals reported its consolidated profit after tax rose 17 per cent to Rs 453 crore in the September quarter, led by robust sales in the domestic market. The drug firm had reported a profit after tax (PAT) of Rs 386 crore in the July-September period of the l

Torrent Pharmaceuticals refutes claim of Shelcal 500 failing CDSCO test

Company claims sample tested was spurious and not manufactured by it

Torrent Pharma slips 3% after USFDA issues 5 observations for Indrad Unit

The fall came after the United States Food and Drug Administration (USFDA) issued a Form 483 with five observations for the Indrad unit

Torrent Group's Mehta family pledges Rs 5,000 cr to UNM Foundation

Pharmaceuticals-to-energy Torrent Group's Mehta family has pledged to donate Rs 5,000 crore over the next five years to the philanthropic foundation set up in name of the group's founder U N Mehta as part of his birth centenary celebrations, the group said on Sunday. Torrent Group celebrated the birth centenary of its founder late Uttambhai Nathalal Mehta (January 14, 1924 to March 31, 1998). The Mehta family has committed to donate Rs 5,000 crore over the next five years to the UNM Foundation to honour the legacy of the visionary philanthropist, the group said in a statement. The Rs 5,000 crore Mehta family committed to donate to the UNM Foundation over the next five years starting April 1, 2024 "will be over and above the statutory CSR contributions of the Torrent Group companies", the statement said. "U N Mehta, the founder of Torrent Group, is remembered for his strong resolve in the face of adversities, business acumen, principled life and humanitarian philanthropy. His early

Torrent Pharma Q3 results: Profit after tax jumps 52% to Rs 443 cr

Torrent Pharmaceuticals on Friday reported a 52 per cent increase in its consolidated profit after tax to Rs 443 crore for the third quarter ended December 2023. The drug firm had reported a net profit of Rs 292 crore in the October-December period of the last fiscal. Its revenue increased by 10 per cent to Rs 2,732 crore in the third quarter compared to Rs 2,491 crore in the year-ago period, Torrent Pharmaceuticals said in a statement. The company said its domestic business revenues increased 12 per cent year-on-year to Rs 1,415 crore in the October -December quarter this year. Brazil's business grew by 26 per cent to Rs 312 crore, while the US business expanded by 6 per cent to Rs 274 crore in the third quarter. German revenues for the October-December period witnessed a 12 per cent growth to Rs 270 crore in the December 2023 quarter. Shares of the company on Friday ended 0.51 per cent up at Rs 2,524.70 apiece on the BSE.

Torrent Pharma Q3 results: Profit after tax up 51% at Rs 443 crore

Torrent Pharmaceuticals' share price rose by 0.51 per cent, ending the day's trade at Rs 2,524 apiece on the Bombay Stock Exchange (BSE)

US regulators inspect Dr Reddy's, other Indian pharma majors: Report

Rivals Sun Pharma's Dadra facility and Torrent Pharmaceuticals Ltd's oncology unit are also undergoing FDA inspections

Torrent Pharma inks licensing pact with Zydus for liver disease drug

Torrent Pharmaceuticals on Friday said it has inked a licensing agreement with Zydus Lifesciences to co-market a product for the treatment of non-alcoholic steato hepatitis (NASH) and non-alcoholic fatty liver disease (NAFLD). As per the agreement, the companies will co-market Saroglitazar Mg in the country. Under the terms of this agreement, Torrent will have semi-exclusive rights to co-market the product in India under the brand name Vorxar, Torrent said in a statement. Zydus launched the drug under the brand names Lipaglyn and Bilypsa and will continue to market them. Torrent will pay Zydus upfront licensing fees and milestone payments based on the achievement of pre-defined milestones, it noted. As the only approved drug for NASH and NAFLD in the country, Saroglitazar Magnesium is likely to play a key role in managing and mitigating these progressive and prevalent liver disorders. Currently, there is no approved drug for the treatment of NASH and NAFLD anywhere else in the ..

Strong profit growth keeps brokerages positive on Torrent Pharma

Led by an 18% y-o-y growth in the domestic formulations segment, which accounts for over half its overall revenues, the company posted 16% growth at a consolidated level

Torrent Pharma Q2 results: Profit after tax up 24% to Rs 386 crore

The company exhibited a 2.66 per cent increase in revenue and was able to turn around the PAT by 2.09 per cent

Torrent lines up at least $5 billion funding to buy 33% stake in Cipla

Torrent has secured commitments from a group of overseas banks for a potential deal, the people said, asking not to be identified as the information is not public

Torrent promoters may pledge stake in power arm to fund Cipla buy

Torrent's promoters own a 53.6 per cent stake in Torrent Power, valued at Rs 18,643 crore as of Friday, which remains a crucial avenue for raising funds for the Mehtas

Cipla, Torrent may need to divest 15 brands in buyout deal: Bernstein

Torrent has a strong presence in gastrointestinal, neurology, and cardiac segments

Torrent leads race to acquire Cipla with 30% higher offer than Blackstone's

Shares of Cipla closed at Rs 1,239 apiece on the BSE on Monday, with a market valuation of Rs 1 trillion

Torrent Pharma gears up to buyout Cipla promoters, approach PE funding

Torrent Pharma might pay a total of Rs 60,000 crore (around $7.2 billion) for a 59.47 per cent stake in the 88-year-old pharmaceutical company

Torrent Pharmaceuticals gets EIR from USFDA for Gujarat's Dahej facility

The Dahej facility manufactures Active Pharmaceutical Ingredients (APIs) and formulations for Torrent Pharma's international markets

Stocks to Watch: Reliance, Coforge, GAIL, Vascon, Sugar stocks, P&G Health

Stocks to Watch on August 24, 2023: Coforge promoter Hulst BV is looking to offload its entire 26.63% stake in the firm via a block deal; India may ban sugar exports for the first time in 7 years

USFDA grants VAI classification to Torrent's Gujarat manufacturing site

The US health regulator has granted Voluntary Action Indicated classification to Torrent Pharmaceutical's manufacturing site in Dahej, Gujarat. A VAI classification means objectionable conditions or practices were found but the agency is not prepared to take or recommend any administrative or regulatory action. As per the information available on its website, the United States Food and Drug Administration (USFDA) has granted Voluntary Action Indicated (VAI) classification to the plant. The Dahej site was earlier placed under 'Official Action Indicated (OAI)' classification based on a March 2019 inspection outcome. OAI means "objectionable conditions were found and regulatory administrative sanctions by FDA are indicated" during inspections. The Dahej site was re-inspected by the USFDA between May 17 and May 25, 2023 and the officials had issued Form 483 with two observations. Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has ..

Torrent Group capitalisation tops Rs 1 trn fuelled by acquisitions, EV push

India's leading diversified business conglomerate Torrent Group has crossed Rs 1 lakh crore market capitalisation as it's power units EV push and pharma company's recent acquisitions fuelled a rally in stocks. The combined market capitalisation of its two listed group companies - Torrent Pharmaceuticals Ltd and Torrent Power Ltd crossed the Rs 1 lakh crore mark in trading on Monday, according to stock exchange information. Torrent Pharmaceuticals shares hit an intra-day high of Rs 2,014.8 before closing at Rs 2,010 on the NSE. This gave it a market capitalisation of over Rs 68,000 crore. The shares of Torrent Power hit an intraday high of Rs 682 before closing at Rs 678.20, giving it a market capitalisation of Rs about Rs 32,600 crore. The combined market capitalisation of the Group now stands at Rs 1,00,600 crore. The Group's valuation hit Rs 50,000 crore in February 2020. This shows 2x growth in market capitalisation in the past three years - driven by robust financial performan

Torrent Pharma reports Q4 net profit of Rs 287 crore, revenue up 16%

The company's consolidated revenue from operation rose by 16.8 per cent to Rs 2,491 crore for the March quarter as compared to Rs 2,131 crore in the year-ago period