The acquisition of Bio-Pharm provides Torrent Pharmaceuticals with new abilities including manufacturing and R&D presence in the USA.
Ahmedabad-based Torrent Pharmaceuticals Ltd reported the acquisition of Bio-Pharm Inc., a drugmaker situated in Pennsylvania, US. The company did not disclose the deal size or other financial details.
Torrent said in a media statement, “This acquisition is an essential step for expanding Torrent’s presence, is consistent with our strategy of dosage form diversification, and provides us with new capacities including manufacturing and R&D presence in the USA”.
The statement said, Established in 1992, Bio-Pharm, generic pharmaceuticals, and over-the-counter (OTC) drugs company, has a proven track in the research and development and manufacturing of oral solutions, suspensions, and suppositories. It’s 75,000 sq. ft US Food and Drug Administration (USFDA) registered facility has manufacturing abilities for controlled substances which can be manufactured in the US just according to government guidelines.
To date, Bio-Pharm has 10 approved Abbreviated New Drug Applications (ANDAs), 10 ANDAs under review at the FDA for itself and its partners and has an additional 17 products under development.
Torrent plans facilitate investments to increase Bio-Pharm’s facilities including R&D capacities and will build the number of its product filings, the company said. With an annual income of more than Rs5,800 crore, Torrent Pharma is the flagship company of the Torrent Group of the Rs18,300 crore Torrent Group.
In November a year ago, the company had reported its intends to obtain the marked business of Unichem Laboratories Ltd in India and Nepal for Rs3,600 crore.
Torrent Pharmaceuticals marked fifth acquisition in India by the Unichem Laboratories. It had acquired selected brands of Elder Pharmaceuticals Ltd and Novartis India Ltd, and additionally manufacturing plants from Zyg Pharma Pvt. Ltd and Glochem Industries Ltd over the most recent four years.