Drugmaker Torrent Pharmaceuticals Acquires Bio-Pharm Inc.
Drugmaker Torrent Pharmaceuticals Ltd has acquired US-based generic pharmaceuticals company Bio-Pharm, Inc. for an undisclosed amount.
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.
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.