After Elder deal, Torrent Pharma open to more buys

Could be smaller acquisitions; potential areas are dermatology, respiratory

The acquisition of the domestic business of debt-ridden Elder Pharma last month could be a new beginning for the Ahmedabad-based drug major Torrent Pharmaceuticals. Torrent Pharmaceuticals has indicated it is open to more acquisitions in the future, both in domestic and  overseas market, according to sources. “The company has a strong balance sheet and is aiming to grow inorganically. It is open to making strategic acquisitions,” a source said. Ranjit Kapadia of Centrum Broking said, “The company would take at least five to six quarters to settle down, and after ...