1. Torrent Pharma to acquire Glochem’s Vizag-based facility

Torrent Pharma to acquire Glochem’s Vizag-based facility

Torrent Pharmaceuticals today said it has inked a pact to acquire Glochem Industries' Vizag-based manufacturing facility along with some drug master files.

By: | New Delhi | Published: June 30, 2016 3:58 PM
Ahmedabad-based Torrent Pharma has five formulation manufacturing units, and with the latest acquisition it will have three API facilities for the regulated markets. (Representative Image: Reuters) Ahmedabad-based Torrent Pharma has five formulation manufacturing units, and with the latest acquisition it will have three API facilities for the regulated markets. (Representative Image: Reuters)

Torrent Pharmaceuticals today said it has inked a pact to acquire Glochem Industries’ Vizag-based manufacturing facility along with some drug master files.

The company has entered a binding agreement 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, Torrent Pharma said in a regulatory filing.

“Acquisition of this site will further help in backward integration and scale up Torrent’s manufacturing capacity to meet the growing demand from the international markets,” Torrent Pharma Executive Director (Operations) Jinesh Shah said.

A DMF is a confidential, detailed document submitted by active pharmaceutical ingredient (API) manufacturers to the US Food and Drug Administration (FDA). It contains the chemistry, manufacturing and controls of a drug component.

Ahmedabad-based Torrent Pharma has five formulation manufacturing units, and with the latest acquisition it will have three API facilities for the regulated markets.

The unit is approved by the USFDA and the European regulatory authorities. It is a multi product facility with a capacity to manufacture advanced intermediates and APIs.

The facility has three blocks for advanced intermediate manufacturing and four blocks for API manufacturing.

The plant also has capabilities for on site development, analytical method development, quality control laboratory and a pilot plant.

Torrent stock was trading at Rs 1,367.95, up 1.24 per cent, on BES.

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