Ahmedabad based multinational pharma major Torrent Pharmaceuticals Limited (Torrent) today, announced the acquisition of Bio-Pharm, Inc. (BPI) a generic pharmaceuticals and OTC Company, based in Levittown Pennsylvania, USA.
Established in 1992, BPI has a proven track record in the research & development and manufacturing of oral solutions, suspensions and suppositories. Its 75,000 sq. ft US FDA registered facility has manufacturing capabilities for controlled substances which can be manufactured in US only as per Government guidelines (DEA Schedule II-V). To date, BPI has 10 approved ANDAs, 10 ANDAs under review at the FDA for itself and it’s partners and has an additional 17 products under development. Torrent plans further investments to expand the BPI facilities including R&D capabilities and will increase the number of product filings from BPI.
This acquisition is an important step for increasing Torrent’s presence in the United States, is consistent with our strategy of dosage form diversification, and provides us with new capabilities including manufacturing and R&D presence in the USA.
Torrent Pharma, with annual revenues of more than Rs. 5800 crores is the flagship Company of the Rs. 18,300 crore Torrent Group.
Torrent Pharma continues to be at the forefront of the Indian pharmaceutical industry with many of its products ranking among the top 500 brands (AIOCD Dataset) in India. Its widespread international presence also includes several markets where Torrent is amongst the leading pharmaceutical companies in the respective countries.
Torrent has a fully equipped Research Center, employing almost 900 scientists, to support the Company’s operations and product pipeline for both Domestic and Overseas markets. The Company’s manufacturing plants located at Indrad, Baddi, Sikkim, Dahej, Pithampur and Vizag have facilities to produce Formulations and Bulk drugs. The plants are approved by authorities from various regulated and semi regulated markets like US, UK, Brazil, Germany, Australia and South Africa.