Torrent Pharmaceuticals Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Mid Cap

Torrent Pharmaceuticals announced that the 51th Annual General Meeting (AGM) of the company will be held on 23 July 2024.

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In a regulatory filing made after market hours yesterday, the pharmaceutical company informed that the US FDA had conducted a pre-approval inspection (PAI) and a GMP inspection at the company’s manufacturing facility situated in Indrad, Gujarat from 03 June 2024 to 12 June 2024.

At the end of the inspection, the company was issued a Form 483 with five observations. There was no observation related to data integrity reported.

“We will respond to the USFDA within the prescribed time-frame and will work in close collaboration with the agency to address the observations at the earliest possible time,” Torrent Pharma said in a statement.

Torrent Pharmaceuticals is the flagship company of the Torrent Group. It is ranked 6th in the Indian Pharmaceuticals Market and is amongst the top five in the therapeutics segments of cardiovascular (CV), gastro intestinal (GI), central nervous system (CNS), vitamins minerals nutritional (VMN) and cosmo-dermatology.

The company’s consolidated net profit surged 56.45% to Rs 449 crore in Q4 FY24 as compared with Rs 287 crore recorded in Q4 FY23. Revenue from operations rose 10.2% year on year (YoY) to Rs 2,745 crore in the quarter ended 31 March 2024.

The scrip shed 0.14% to currently trade at Rs 2890.50 on the BSE.

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Torrent Pharmaceuticals Ltd rose for a fifth straight session today. The stock is quoting at Rs 2855.1, up 0.36% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.19% on the day, quoting at 23333.9. The Sensex is at 76733.17, up 0.05%. Torrent Pharmaceuticals Ltd has added around 9.62% in last one month.

Meanwhile, Nifty Pharma index of which Torrent Pharmaceuticals Ltd is a constituent, has added around 4.24% in last one month and is currently quoting at 19578, up 0.83% on the day. The volume in the stock stood at 67975 shares today, compared to the daily average of 2.81 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 2857.3, up 0.34% on the day. Torrent Pharmaceuticals Ltd is up 58.06% in last one year as compared to a 25.44% gain in NIFTY and a 53.56% gain in the Nifty Pharma index.

The PE of the stock is 70.89 based on TTM earnings ending March 24.

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Torrent Pharmaceuticals (Torrent) today announced that it has entered into a non-exclusive patent licensing agreement with Takeda to commercialize Vonoprazan in India. Vonoprozan is a novel potassium-competitive acid blocker (P-CAB), used for the treatment of acid related disorders - Gastroesophageal Reflux Disease (GERD). Torrent will market Vonoprazan under its own trademark, Kabvie.

As per a 2019 study published by Indian Journal of Gastroenterology prevalence of GERD in Indian population is around 8.2%, with a higher prevalence of around 11.1% in urban population. According to AWACS MAT April 2024 data, the Indian market for treatments used in GERD is valued at INR 8,064 crore, growing at 8% CAGR over the last 4 years. Currently treatments such as Pantoprazole (Proton Pump Inhibitors) are used to treat GERD. Availability of P-CABs such as Kabvie will make accessible new and effective treatments of GERD for the Indian population.

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