Torrent Pharma rises on entering into agreement with Dr Reddy's Laboratories
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Torrent Pharma is currently trading at Rs. 2905.00, up by 4.10 points or 0.14% from its previous closing of Rs. 2900.90 on the BSE.
The scrip opened at Rs. 2927.00 and has touched a high and low of Rs. 2933.00 and Rs. 2879.10 respectively. So far 4240 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3304.45 on 31-Dec-2021 and a 52 week low of Rs. 2485.00 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 2933.00 and Rs. 2554.25 respectively. The current market cap of the company is Rs. 48963.93 crore.
The promoters holding in the company stood at 71.25%, while Institutions and Non-Institutions held 20.62% and 8.14% respectively.
Torrent Pharmaceuticals has entered into agreement with Dr Reddy's Laboratories to acquire four of its brands -- Styptovit-E, Finast, Finast-T and Dynapress.
As per the terms of the definitive agreement, Torrent Pharma will take over the manufacturing, marketing and distribution of these brands in India. The complete integration and transition of the brands are expected to be completed by June 2022.
Styptovit-E, a gynaecology product with an estimated market size of Rs 500 crore (AIOCD data set), will further strengthen the company's presence in the segment. The acquisition of 'Finast', 'Finast-T', and 'Dynapress', which are used in the treatment of Benign Prostatic Hyperplasia (BPH), will aid the drug firm in strengthening its presence in the urology segment.
Torrent Pharmaceuticals is flagship company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
