Torrent Pharma buys Glochem API plant to aid backward integration

To give a fillip to its backward integration strategy, Torrent Pharma has entered into a binding agreement to acquire the Vizag API manufacturing unit of Hyderabad-based Glochem Industries Limited along with a few drug master files (DMF) as a going concern on slump sale basis. Torrent Pharma currently has five formulation manufacturing units and with this acquisition it will have 3 API facilities for the regulated markets, in the near future.
 
The API unit, approved by the US FDA and the European regulatory authorities, is a multi-product facility, with a capacity to manufacture advance intermediates & active pharmaceutical ingredients (APIs). This will be beneficial in company’s growth trajectory. The acquisition will help Torrent Pharma in vertically integrating its abbreviated new drug application (ANDA) filings in the future.