Page 3 - Torrent Pharma

Torrent Pharma Q4 results: Net profit increases 56.45% to Rs 449 crore

Torrent Pharmaceuticals Ltd on Friday reported a 56.45 per cent jump in consolidated net profit to Rs 449 crore in the March quarter, riding on higher revenue. The company had posted a consolidated net profit of Rs 287 crore in the same period of the previous fiscal, Torrent Pharmaceuticals said in a regulatory filing. Consolidated revenue from operations in the fourth quarter of FY24 stood at Rs 2,745 crore as against Rs 2,491 crore in the year-ago period, it added. India revenue was at Rs 1,380 crore, up 10 per cent while the same for Brazil was at Rs 372 crore, registering a growth of 17 per cent, and Germany was at Rs 280 crore, up 11 per cent in the quarter, the company said. On the other hand, US business revenue was at Rs 262 crore, down 6 per cent, it added. Total expenses in the quarter under review was higher at Rs 2,145 crore as compared to Rs 2,067 crore in the same period a year ago. Torrent Pharma said its board has recommended a final dividend of Rs 6 per equity sh

Indus Towers, Bosch: Stocks that may enter MSCI Standard index on May 15

As of May 13, 2024, India's weight in the MSCI Emerging Market Index stood at around 18 per cent, a considerable rise from approximately 8 per cent in early 2020

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

USFDA issues Form 483 with 5 observations to Torrent Pharma's Guj unit

Torrent Pharmaceuticals Ltd on Tuesday said the US health regulator has issued Form 483 with five procedural observations after inspecting its oral manufacturing facility situated at Bileshwarpura in Gujarat. As per the US Food and Drug Administration (USFDA), Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. The USFDA conducted a pre-approval Inspection at the company's oral manufacturing facility situated in Bileshwarpura, Gujarat from December 5 to 11, 2023, Torrent Pharma said in a regulatory filing. "At the end of the inspection, the company was issued a Form 483 with five procedural observations. There was no observation related to data integrity reported,"it added. The company also said, "we will respond to the USFDA within the prescribed time frame and will work in close collaboration with the agency to ...

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 ..

Torrent, Zydus collaborate to bring liver disease treatment to India

Saroglitazar Mg received approval in March 2020 for NASH treatment and later expanded its indications to include NAFLD

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 net profit rises 24% to Rs 386 cr on strong demand

Consolidated net profit was Rs 386 crore for the quarter ended Sept. 30, compared with Rs 312 crore a year earlier

Sensex sinks 826 pts, Nifty ends below 19,300; SmallCap index slides 4%

Stock market live on October 23, 2023: At 7:15 am, the Gift Nifty futures were nearly flat at 19,520 levels

Govt may divest 7% stake in Hudco, Torrent Pharma's promoters get exemption

Sebi has granted open offer exem­ption to the promoters of Torrent Pharma and Torrent Power

Trusts linked to Torrent Power, others from open offer conditions exempted

Regulator Sebi on Tuesday exempted four family trusts linked to promoters from making open offers to the shareholders of three companies -- Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing -- following their proposed indirect share acquisition in these firms. The orders came after four Mehta Family Trusts filed applications with the regulator in July 2023, and sought exemption from certain provisions of takeover regulations. In order to facilitate succession planning, Sudhir Uttamlal Mehta and Samir Uttamlal Mehta created four trusts to streamline the family's shareholding in Torrent Investments Private Limited (TIPL). Under the proposed acquisitions, four acquirer trusts intended to acquire interest in the target companies -- Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing -- indirectly from TIPL, one of the promoters of these firms, according to three separate orders by the Securities and Exchange Board of India (Sebi). The acquirer trusts pla

Pharma result preview: US stable, India muted in the second quarter

Hospital occupancy rates rise 200-400 bps, while diagnostic sector sees seasonal benefits

Torrent in talks with Apollo to borrow up to $1 bn for Cipla bid: Reports

Torrent has also been in talks with CVC Capital Partners and Bain Capital who might become equity partners in a consortium and contribute as much as a combined $1.5 billion to the deal, sources said

Torrent pharma in advance talks with CVC Capital to buyout Cipla promoters

Torrent had reached out to several private equity (PE) funds, including Bain Capital to secure the necessary funds to buyout the promoter family of Cipla

Cipla on the block: Who's a better fit and what it means for shareholders?

As per IIFL Securities, Cipla with a dominating market share of 7% and 23% in acute therapies like respiratory and anti-infectives, respectively, would strengthen Torrent's position in these

Stocks to Watch today, Sep 11: Adani Grp, HDFC Bank, RIL, Sonata, IRB Infra

Stocks to watch on September 11, 2023: Balrampur, Delta Corp, India Cements, Manappuram, PNB and SAIL among nine stocks in F&O ban on Monday.

Stocks to Watch: Vishnu Prakash, Hero Moto, Cipla, Escorts, Oil, IEX, M&M

Stocks to watch on September 5, 2023: Vishnu Prakash R Punglia will debut on the bourses today. The issue price is Rs 99 and the stock may list with up to 60 per cent premium

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

Stocks to Watch: Torrent Pharma, Cipla, TVS Supply Chain, Titan, AdaniTotal

Stocks to Watch on August 23, 2023: Torrent Pharma has joined the race to buy out Cipla's promoter stake held by the Hamied family, reported The Economic Times

Stocks to Watch today, Aug 08: Airtel, Max Health, GIC Housing, Sobha, BEML

Stocks to watch on August 08, 2023: Adani Ports, Coal India, Hindalco, Jet Airways, Oil India and Utkarsh SFB are few of the notable companies to announce June quarter earnings on Tuesday.