Torrent Pharmaceuticals, the flagship company of the Ahmendabad-based Torrent Group, has spread its operations in two major export markets. The Company has wholly owned subsidiaries, Torrent Do Brasil Limiteda (TDBL) in Brazil and Torrent Pharma GmbH in Germany and plans to consolidate its presence in various other countries.
The newly set up subsidiary in Brazil has already commenced formulation sales. Torrent Pharma GmbH commenced operations and established important alliances for international generic dossiers – signifying Company’s growing presence in the more regulated markets of Europe.
The manufacturing facility of the company was inspected and approved by regulatory authorities of South Africa, Hungary and Latvia during the year. Export sales registered a growth of 19 per cent during the last fiscal. Sales to traditional territories such as Asia and Africa performed well.
The company had doubled its revenue from the African market since 1999-2000 with 125 registered products covering eight countries, is now consolidating its position in the African territories also. It will enter the South African market and the Francophone African market also.
Torrent is also planning to shift its focus from tender-based business to prescription-based business in Russia.