Ahemadabad-based Torrent Pharma is looking at increasing its presence in the global market and is understood to be in talks with a generic drug manufacturer in Romania. Earlier, the company had emerged as a serious player in the much-hyped Merck generics deal but finally lost it to the US-based Mylan Laboratories. ?The company is close to take a big jump into the global generics space, backed by private equity players and a team led by Torrent Pharma?s MD Samir Mehta had recently visited Romania to discuss the deal,? sources told FE.
The share price of the company closed up 2.06% at Rs 188 at the Bombay Stock Exchange on Monday.
Asked about the possible deal size and the target company, a company spokesperson declined to comment. The spokesperson, however, said the company was looking at acquiring companies that could complement its current therapeutic profile. ?Value is important but more important is that the company (to be acquired) has to be a strategic fit,? he said adding the company was looking at several companies in the emerging markets.
The company has seven discovery projects in the pipeline mostly in the cardio-vascular segment. It claims to have innovative therapies in areas such as diabetology, cardiovascular, central nervous system, gastro-intestinal, anti-infective and pain management.
Europen Union is the biggest market, after the US, for generic drugs and acquiring companies in nations that are part of the EU makes lot of sense for drug makers, an industry expert said. ?After the initial wave of overseas acquisitions by domestic pharma companies, which were made at inflated prices, the companies have now become smarter and only buy if the pricing is right,? associate director services firm PriceWaterhouseCoopers Sujay Shetty said.