Drugmaker Torrent Pharmaceuticals Ltd has acquired US-based generic pharmaceuticals company Bio-Pharm, Inc. for an undisclosed amount, the company said in a stock-exchange disclosure.
The acquisition will help Torrent Pharma diversify its dosage form, expand its presence in the US and will provide it with manufacturing and R&D capabilities in that country, the company added.
Established in 1992, Bio-Pharm, manufactures and develops oral solutions, suspensions and suppositories. Based in Levittown, Pennsylvania, the company has a 75,000 sq. ft. manufacturing facility registered by the US Food and Drug Administration.
Torrent Pharma is the flagship company of Ahmedabad-based Torrent Group, which also operates a power generation business, besides others.
Torrent Pharma has manufacturing plants at Indrad, Baddi, Sikkim, Dahej, Pithampur and Visakhapatnam.
The company’s consolidated income stood at Rs 6,080 crore and net profit was Rs 934 crore for the year through 31 March 2017.
Torrent Pharma’s previous acquisitions
The pharma company’s most recent acquisition was in November 2017, when it acquired the branded formulations business of Unichem Laboratories Ltd in India and Nepal for Rs 3,600 crore.
Prior to that, it bought a portfolio of brands from Novartis India in March 2017.
In June 2016, it bought an active pharmaceutical ingredient facility of Hyderabad-based Glochem Industries Ltd for an undisclosed amount.
In 2015, it acquired Zyg Pharma, which manufactures various dermatological formulations like creams, ointments, gels, lotions and solutions, for an undisclosed amount.