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Torrent Pharma sales spurt 18% to Rs 93 cr
Jyotsna Bhatnagar
Ahmedabad, July 26: Increased expenditure on new product innovations, in development and marketing have impacted the profit margins of the Ahmedabad-based Torrent Pharmaceuticals Ltd, part of the Rs 2,000-crore Torrent group. Sales, however, have spurted by 18.5 per cent from Rs 78.2 crore in the first quarter of 1999-00 to Rs 92.7 crore in the first quarter of the current fiscal.According to a company release, the highlight of this quarter is the introduction of as many as seven products including line extensions. In two of these products, namely Eurepa, an anti-diabetic drug and Toroxx, an analgesic for the treatment of acute and chronic pain, Torrent has been the first company to develop and market them. The launch of Topcef (Cefixime, an antibiotic) was another significant addition to the product portfolio of Torrent Pharmaceuticals. This spate of new introductions, the fruit of the sustained efforts by Torrent in R&D and market development, is expected to lay the foundation for higher growth rates in the future. the company has also applied for a US patent for certain promising compounds and is actively exploring options for acquisition of brands and companies both in the domestic and international arena. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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