Torrent Pharma Accelerates Growth in Indian Pharmaceutical Market

Torrent Pharma, an Indian pharmaceutical titan, has shown strong momentum in the Indian Pharmaceutical Market (IPM), registering a notable increase of 19.7% in October 2023 and 8.20% in November 2023.

The company's pioneering brand Shelcal has made significant strides, surpassing the sales benchmark of Rs 600 crore and rising to 40th position in the MPI.

USFDA approval: a stepping stone to the US market

To further bolster Torrent Pharma's growth trajectory, the company's manufacturing plant in Dahej has obtained an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA). This approval indicates a successful regulatory inspection and serves as a promising springboard for the company to obtain approvals for pending abbreviated new drug applications (ANDAs). This development is likely to facilitate the introduction of new products into the lucrative US market.

Perspectives on the German market

On the international front, Torrent Pharma's operations in Germany are expected to recover in the second half of fiscal 2024. The recovery is expected to be driven by double-digit growth, mainly driven by the successful execution of a tender .

Future projections

Looking ahead, the future for Torrent Pharma looks bright. The clearance of the Dahej plant is expected to contribute to increased sales in the US through 2026. Additionally, the company expects sustained double-digit growth in MPI for the core business. The acquisition of Curatio is also expected to generate synergies that will help maintain an EBITDA margin of over 30%. However, the company and market experts advise potential investors to consult with certified professionals before making any investment decisions.