Ahmedabad-based Torrent Pharmaceuticals Ltd has bought US-based Bio-Pharm Inc, a generic pharmaceuticals and over the-counter (OTC) drug maker for an undisclosed sum.
“This acquisition is an important step for increasing Torrent’s presence in the US, is consistent with our strategy of dosage form diversification, and provides us with new capabilities including manufacturing and R&D presence in that country,” the company said in a regulatory filing.
Levittown, Pennsylvania-based Bio-Pharm has a 75,000 square feet manufacturing facility in the US. It has 10 abbreviated new drug applications (ANDAs) approved by the US Food and Drug Administration (FDA), with another 10 ANDAs under review. Bio-Pharm partners have an additional 17 products under development.
Torrent Pharma says it plans further investments to expand facilities, including its research and development (R&D) at Bio-Pharm to increase number of product filings.
Torrent Pharma ended Friday flat at Rs1,419 on the BSE, while the 30-share Sensex closed the week marginally up at 35,511.