Torrent Pharma acquires manufacturing unit of Hyderabad-based Glochem Industries
With this acquisition, the company will have three API facilities for the regulated markets.
Torrent Pharma has agreed to acquire the Vizag API manufacturing unit of Hyderabad-based Glochem Industries along with a few Drug Master Files (DMF) as a going concern on slump sale basis. The company currently has five formulation manufacturing units and with this acquisition it will have three API facilities for the regulated markets, in the near future.
The API unit, approved by the FDA and the European regulatory authorities, is a multi-product facility, with a capacity to manufacture advance intermediates and APIs. This will be beneficial in company's growth trajectory. The acquisition will help Torrent Pharma in vertically integrating its Abbreviated New Drug Application (ANDA) filings in the future.
Jinesh Shah, Executive Director (Operations) at Torrent Pharma said: “Acquisition of this site will further help in backward integration and scale up of Torrent’s manufacturing capacity to meet the growing demand from the international markets.”
The facility located at JNPC Parawada District, Vizag, currently has three blocks for advance Intermediate manufacturing and four blocks for API manufacturing. The facility also has capabilities for on site development, analytical method development, quality control laboratory and a pilot plant.
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