Thursday, 9 January 2014

Torrent Pharmaceuticals eyes more acquisitions in the future: Report

After Rs 2,004-crore Torrent-Elder deal, Torrent Pharmaceuticals is reportedly eyeing more acquisitions in the future, both in domestic and overseas market. The company will prefer a much smaller acquisition, in the range of Rs 50-100 crore. Though, the company has not specified which areas it is going to foray for an acquisitions.

Earlier in December 2013, the company entered into a definitive binding agreement with Elder Pharmaceuticals (Elder) to acquire its branded domestic formulations business in India and Nepal (India Business) for a consideration of about Rs 2000 crore.

Torrent Pharmaceuticals is flagship company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.

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