Torrent Sees Fortunes Affected By Regulatory Overhang

Dahej Unit Heads For Re-inspection By Mid-2020

 
• By Vibha Ravi
  
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Torrent has tempered FY21 US growth expectations while it plans to put Dahej, Indrad and Levittown plants up for FDA inspection in 2020. Meanwhile, products launched in India, including remoglifozin in-licensed from Glenmark, have shown an encouraging uptake.

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Torrent Has To Clear Several Hurdles To Get Back On Growth Path • Source: Shutterstock

After regulatory action, procedural hurdles and a product rationalization exercise combined to dent Torrent Pharmaceuticals Ltd.’s revenues in the third quarter this fiscal year, the company tamped down expectations for fiscal 2021. The company reported revenues of INR19.66bn ($276m) for the quarter ended 31 December, a 4% drop from the corresponding period last fiscal. 

During a conference call on 28 January post announcement of its Q3 earnings, company officials forecast stable to declining revenues...

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