India’s Torrent Buys Glochem API Plant
Indian drugmaker Torrent Pharma has agreed to buy an API manufacturing plant from Hyderabad-based Glochem Industries in Vizag, India, for an undisclosed sum. The deal being treated as the acquisition of a going concern on a slump sale basis also includes a few Drug Master Files.
The Vizag production unit, which is approved by the US Food and Drug Administration (FDA) and European regulatory authorities, manufactures both APIs and advance intermediates. This, Torrent said, will be beneficial for the company’s growth plan, helping it to vertically integrate its Abbreviated New Drug Application (ANDA) filings in future.
“Acquisition of this site will further help in backward integration and scale-up of Torrent’s manufacturing capacity to meet the growing demand from international markets,” said Jinesh Shah, Torrent Pharma’s executive director for operations. The facility at Jawaharlal Nehru Pharma City in Parawada, India, also has a quality control laboratory and a pilot plant.
Torrent’s five existing plants with capabilities to produce formulations and bulk drugs are located at Indrad, Baddi, Sikkim, Dahej and Pithampur.
