#TORRENT PHARMA DERMA PRODUCTS TORRENT#
Torrent has a fully equipped Research Center, employing almost 600 scientists, to support the company’s operations and product pipeline for both domestic and overseas markets. Torrent Pharma is the flagship Company of the Torrent Group. Torrent had acquired the domestic business of Elder Pharma in December 2013, a deal that gave Torrent access to new therapeutic areas in which it was looking to expand its presence. At the time, the company told Business Standard that the funds would be used to refinance existing borrowings, as well as organic and inorganic growth.
In January this year, Torrent had raised close to Rs 10,000 crore by issuing securities and had said that it is open to acquisitions to fuel its growth. The deal is expected to be closed by August 2015. The transaction has been approved by the boards of both companies, and the transaction closure is subject to customary conditions and requisite regulatory and other approvals. Torrent said it would fund the acquisition through internal accruals. Zyg has been a manufacturing partner to several international companies in India and has also built a successful international business through partners in developed as well as emerging markets. "In line with its strategy to diversify into new therapy segments, the acquisition will help Torrent to strengthen its position in the niche dermatological segment, especially in the developed markets like US and Europe," Torrent Pharma, which is valued at Rs 4,200 crore, said in a release.Īccording to market sources, the deal is estimated to be valued at around Rs 350-400 crore.
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