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Torrent Pharmaceuticals

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Torrent Pharmaceuticals Limited
FormerlyTrinity Laboratories (1959–1971)
Company typePublic
ISININE685A01028
IndustryPharmaceuticals
Founded1959; 65 years ago (1959)
FounderU. N. Mehta
HeadquartersAhmedabad, Gujarat, India
Area served
Worldwide
Key people
Products
RevenueIncrease ₹10,728 crore (US$1.3 billion) (FY24)[2]
Increase ₹3,368 crore (US$390 million) (FY24)[2]
Increase ₹1,656 crore (US$190 million) (FY24)[2]
Number of employees
12,881 (2020)[3]
ParentTorrent Group
Websitewww.torrentpharma.com

Torrent Pharmaceuticals Ltd is an Indian multinational pharmaceutical company, part of the Torrent Group and headquartered in Ahmedabad. It was promoted by U. N. Mehta, initially as Trinity Laboratories Ltd, and was later renamed Torrent Pharmaceuticals Ltd.

Torrent Pharmaceuticals operates in more than 40 countries with over 2,000 product registrations globally. Torrent Pharma is active in the therapeutic areas of cardiovascular, central nervous system, gastro-intestinal, diabetology, anti-infective and pain management segments. It also has a presence in therapeutic segments of nephrology, oncology, gynecology, respiratory and pediatrics.[4]

History

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Torrent Pharmaceuticals was established in 1959 by U. N. Mehta as Trinity Laboratories. It was renamed as Torrent Pharmaceuticals in 1971.[5]

In 1997, Torrent Pharma and Sanofi established a 50:50 joint venture called Sanofi Torrent for selling Torrent Pharma's products.[6] Torrent exited the joint venture by selling its stake to Sanofi in 2002.[7]

In 2005, Torrent Pharmaceuticals acquired Heumann Pharma Generics GmbH, a Pfizer company based in Germany.[8]

In 2013, Torrent Pharma acquired the India formulations business of Elder Pharmaceuticals for ₹2,004 crore (US$341.99 million).[9]

In 2017, Torrent Pharma acquired the domestic business of Unichem Laboratories for ₹3,600 crore (US$552.81 million).[10]

In 2022, the company acquired skincare manufacturer Curatio Healthcare for ₹2,000 crore (US$254.44 million).[11]

Subsidiaries

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It has 7 fully owned subsidiaries:

  1. Heumann Pharma GmbH & Co Generica KG, Germany
  2. Torrent Pharma GmbH, Germany
  3. Torrent do Brasil Ltda., Brazil
  4. ZAO Torrent Pharma, Russia
  5. Torrent Pharma Inc., United States
  6. Torrent Pharma Philippines Inc., Philippines
  7. Torrent Pharma Canada Inc., Canada
  8. Torrent Pharma UK United Kingdom

Operations

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The company's key areas are Formulations, API, Drug Discovery, Marketing and Sales of Drugs. Its operations locations are:

Recalls

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In 2018, Torrent Pharmaceuticals recalled tablets containing valsartan[14][15] and losartan[16] due to the detection of N-nitrosodimethylamine (NDMA) and N-nitrosodiethylamine (NDEA) respectively which are probable human carcinogens.

In September 2019, the FDA issued notice of a sixth product recall of losartan by Torrent Pharmaceuticals when certain batches of losartan contained the contaminant, N-methylnitrosobutyric acid (NMBA), above acceptable daily intake levels determined by the FDA.[17]

See also

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References

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  1. ^ Rajan, Sreejith (7 February 2024). "Torrent Pharma says company at a new stage of profitability". The New Indian Express. Retrieved 28 May 2024.
  2. ^ a b c "Torrent Pharma announces Q4 FY24 results" (PDF). Torrent Pharmaceuticals. Retrieved 28 May 2024.
  3. ^ "Torrent Pharmaceuticals Ltd. Financial Statements". moneycontrol.com.
  4. ^ "Torrent Pharma Q1 net profit up 33 percent to Rs 216 crore". Medical Dialogues. 23 July 2019.
  5. ^ "Torrent Pharmaceuticals Ltd". Medical Dialogues. 7 September 2022. Retrieved 28 May 2024.
  6. ^ "Sanofi Torrent To Sell Torrent Pharma Products". Business Standard. 7 April 1997. Retrieved 28 May 2024.
  7. ^ "Torrent exits JV with Sanofi-Synthelabo: Reuters". Rediff. Retrieved 28 May 2024.
  8. ^ "Torrent to buy Pfizer group's Heumann Pharma". The Economic Times. 28 June 2005. Retrieved 28 May 2024.
  9. ^ "Torrent buys Elder Pharma business for Rs 2,004 crore". The Indian Express. 14 December 2013. Retrieved 28 May 2024.
  10. ^ Rajagopal, Divya (8 November 2017). "Torrent Pharma walks away with Unichem's domestic business for Rs 3,600 crore". The Economic Times. Retrieved 28 May 2024.
  11. ^ Thacker, Teena (27 September 2022). "Torrent Pharmaceuticals to acquire 100% of Curatio Healthcare for Rs 2,000 crores". The Economic Times. Retrieved 28 May 2024.
  12. ^ Sunkara, Keshav (19 January 2018). "Torrent Pharma acquires US-based Bio-Pharm". VCCIRCLE. Retrieved 20 July 2019.
  13. ^ PTI (18 March 2016). "Torrent Pharma gets establishment nod from USFDA". The Economic Times. Retrieved 20 July 2019.
  14. ^ "Torrent Pharmaceuticals Limited Issues Voluntary Nationwide Recall of Valsartan/Amlodipine/HCTZ, Valsartan/Amlodipine and Valsartan Tablets". Food and Drug Administration. 2018. Torrent Pharmaceuticals Limited is voluntarily recalling ALL LOTS within expiry of Valsartan/Amlodipine/HCTZ, Valsartan/Amlodipine and Valsartan tablets to the consumer level due to the detection of trace amounts of an unexpected impurity found in an active pharmaceutical ingredient (API) manufactured by Zhejiang Huahai Pharmaceuticals. The impurity detected in the API is N-nitrosodimethylamine (NDMA), which is a substance that occurs naturally in certain foods, drinking water, air pollution, and industrial processes, and has been classified as a probable human carcinogen as per International Agency for Research on Cancer (IARC) classification.
  15. ^ "FDA updates on valsartan recalls". Food and Drug Administration. 2018.
  16. ^ "Torrent Pharmaceuticals Limited Issues Voluntary Nationwide Recall of Losartan Potassium Tablets, USP". Food and Drug Administration. 2018. Torrent Pharmaceuticals Limited is voluntarily recalling 2 lots of Losartan potassium tablets, USP to the consumer level due to the detection of trace amounts of an unexpected impurity found in an active pharmaceutical ingredient (API) manufactured by Hetero Labs Limited. The impurity detected in the API is N-nitrosodiethylamine (NDEA), which is a substance that occurs naturally in certain foods, drinking water, air pollution, and industrial processes, and has been classified as a probable human carcinogen as per International Agency for Research on Cancer (IARC) classification.
  17. ^ "Updated: Torrent Pharmaceuticals Limited Expands Voluntary Nationwide Recall of Losartan Potassium Tablets, USP and Losartan Potassium / Hydrochlorothiazide Tablets, USP". US Food and Drug Administration. 23 September 2019. Retrieved 23 September 2019.
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