Ahmedabad-based Torrent Pharmaceuticals announced on May 27 that it had agreed with Dr Reddy’s lab to acquire four of its brands – “Styptovit-E”, “Finast”, “Finast-T”, and “Dynapress”.
Styptovit-E is a gynaecological product with an estimated market size of around Rs. 500 crore will further strengthen Torrent’s clout in treatments, according to the pharma giant’s regulatory filings with the stock exchange. The acquisition of “Finast”, “Finast-T”, and “Dynapress” for the treatment of Benign Prostatic Hyperplasia (BPH) will contribute to Torrent’s presence in the field of urology.
Under the terms of the definitive agreement, Torrent Pharma will take over the manufacturing, marketing and distribution of the brands in India. The complete integration and transformation of the brand are expected to be completed by June 2022.
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Torrent Pharma, earning more than Rs 8,500 crore rupees, is the flagship company of Torrent Group’s revenue exceeding Rs. 20,000 crores. It ranks 8th in the Indian pharmaceutical market. Shares of Torrent Pharma were up 0.86% at Rs 2,925.95 per share on BSE at 10.20 am.
